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GE

General Electric

$8.94

-0.005 (-0.06%)

09:24
01/14/19
01/14
09:24
01/14/19
09:24

GE risk profile to 'significantly improve' with asset sales, says William Blair

William Blair analyst Nicholas Heymann senses that the prospects are rising for a "possible material expansion" of the sale of non-core General Electric businesses versus the company's original earlier plans last updated in June 2018. GE's risk profile is likely to "significantly improve" as uncertainties regarding its financial leverage, litigation and government investigations, unfunded liabilities, and operational turnaround plans for Power are likely to emerge over the next few months, Heymann tells investors in a research note partially titled "End of Apocalypse Scenarios Now at Hand." Specifically, the analyst sees a rising likelihood that GE may accelerate the timing and size of its original plans for the initial public offering of GE Healthcare. Further, the prospects for GE Commercial Aviation Service to be sold at or above book value are also rising while the non-core 20% of GE Digital recently recast into a separate business could lead to it being monetized, says the analyst. Collectively, Heymann estimate the potential monetization of these two new asset sales, along with a larger Healthcare IPO sooner than originally envisioned, could enhance GE's liquidity by as much as about $50B-$55B, beyond the company's previously disclosed June 2018 corporate transformation plan. The analyst, however, believes GE's free cash flow will remain "significantly challenged" throughout 2019 while it works to resurrect Power's profitability by right-sizing its global fossil turbine production capacity. He maintains an Outperform rating on General Electric.

  • 31

    Jan

GE General Electric
$8.94

-0.005 (-0.06%)

12/13/18
12/13/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Electric (GE) upgraded to Neutral from Underweight at JPMorgan with analyst Stephen Tusa saying he's less negative on the shares with the abating of "known unknowns." 2. Five Below (FIVE) upgraded to Buy from Neutral at Goldman Sachs with analyst Christopher Prykull saying the 18% decline in the stock price over the past month is "disconnected" from the company's robust fundamentals and believes that there is a 20% upside to his price target. 3. Tractor Supply (TSCO) upgraded to Buy from Hold at Deutsche Bank with analyst Michael Baker citing valuation. 4. Procter & Gamble (PG) upgraded to Buy from Neutral at BofA/Merrill with analyst Olivia Tong saying after meetings with CFO Jon Moeller, she believes that the company's early momentum in Q1 of FY19 can be sustained. 5. Dycom (DY) upgraded to Buy from Hold at Craig-Hallum with analyst Christian Schwab saying he believes shares at current levels have become attractive again. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/19/18
VERT
12/19/18
UPGRADE
VERT
Buy
General Electric upgraded to Buy from Hold at Vertical Research
Vertical Research analyst Jeffrey Sprague upgraded General Electric to Buy from Hold with an $11 price target.
12/19/18
12/19/18
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Medtronic (MDT) upgraded to Overweight from Neutral at JPMorgan with analyst Robert Marcus saying that over the past year he's seen a "significant turnaround in performance" at Medtronic. 2. Masimo (MASI) upgraded to Overweight from Neutral at Piper Jaffray with analyst William Quirk saying management, during recent meetings, was upbeat about their near- and longer-term prospects of driving 8%-10% sales growth, at least 100 basis points of operating margin improvement and the company's 30% operating profit goal. 3. Darden (DRI) upgraded to Buy from Hold at Maxim and to Buy from Neutral at BTIG. 4. Best Buy (BBY) upgraded to Neutral, risks priced in, says MoffettNathanson with analyst Greg Melich saying sales and margin risks are reflected in valuation. 5. General Electric (GE) upgraded to Buy from Hold at Vertical Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/07/19
JPMS
01/07/19
NO CHANGE
Target $6
JPMS
Neutral
JPMorgan sees GE providing something 'more tangible' soon, keeps $6 target
JPMorgan analyst Stephen Tusa says his conversations with clients continue to be dominated by the debate around General Electric's liabilities. The analyst has seen nothing to change his view that $100B of net liabilities and zero enterprise free cash flow is the problem facing management and the right construct when thinking about how to get the story back to "normal" from an equity value standpoint. We are likely approaching the time where GE will provide something "more tangible, perhaps shrinking the balance sheet," Tusa tells investors in a research note. However, related dilution, combined with a full "cleanse" of the accounting structure, should result in a "substantially lower run rate fundamental anchor than many appreciate," says Tusa. He keeps a Neutral rating on GE shares with a $6 price target. The analyst believes Bloomberg's report of Apollo interest in GE's jet leasing business is "not enough value to change" the company's "leverage problem," which he says is "punctuated" by the "collapse in lessor peer multiples."

TODAY'S FREE FLY STORIES

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VNO

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GOLD

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TECH

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$163.24

1.16 (0.72%)

, A

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1.16 (1.64%)

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ATVI

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1.26 (2.66%)

, EA

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Activision Blizzard

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NFLX

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AIMT

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0.26 (1.15%)

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NM

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YRCM

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$0.00

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LEN

Lennar

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KBH

KB Home

$20.30

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PHM

PulteGroup

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Z

Zillow

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0.35 (1.04%)

ZG

Zillow

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0.35 (1.05%)

RLGY

Realogy

$18.27

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RDFN

Redfin

$18.49

0.48 (2.67%)

DDAIF

Daimler AG

$0.00

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FCAU

Fiat Chrysler

$16.78

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F

Ford

$8.59

0.23 (2.75%)

GM

General Motors

$38.63

0.35 (0.91%)

HMC

Honda

$29.77

0.22 (0.74%)

NSANY

Nissan

$0.00

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TM

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$125.40

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VLKAY

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$0.00

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    Oct

ASLN

Aslan Pharmaceuticals

$3.55

(0.00%)

, FPRX

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$11.20

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TCCO

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Technical Comm Corp reports notice of failure to satisfy Nasdaq rule »

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SNAP

Snap

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Snap exec fired due to undisclosed relationship with consultant, Cheddar says »

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SSW

Seaspan

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TXT

Textron

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TAC

TransAlta

$4.91

0.04 (0.82%)

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TDS

Telephone and Data

$36.27

0.42 (1.17%)

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GWPH

GW Pharmaceuticals

$137.24

2.59 (1.92%)

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FCSC

Fibrocell Science

$2.03

0.03 (1.50%)

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

, ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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FDX

FedEx

$176.97

3.72 (2.15%)

16:49
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ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

, ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

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Conference/Events
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Special Shareholder…

ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

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MKL

Markel

$1,067.03

13.52 (1.28%)

16:36
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NILSY

Norilsk Nickel

$0.00

(0.00%)

16:35
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Downgrade
Norilsk Nickel rating change at Goldman Sachs »

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

, ABBV

AbbVie

$89.51

2.28 (2.61%)

16:33
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JNJ

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1.54 (1.19%)

ABBV

AbbVie

$89.51

2.28 (2.61%)

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FOMX

Foamix

$3.70

-0.14 (-3.65%)

16:32
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Conference/Events
Foamix to host research and development day »

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