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GE

General Electric

$10.32

0.04 (0.39%)

07:01
06/14/19
06/14
07:01
06/14/19
07:01

Tusa puts GE's commercial success in quotes, keeps Underweight rating

In a research note titled "Thoughts On 'Commercial Success,'" with quotes around commercial success, JPMorgan analyst Stephen Tusa keeps an Underweight rating on shares of General Electric. In recent months, "despite general agreement on the need to limit the focus on headlines," market share and big order wins have crept back into the GE narrative, including what appears to be a significant engine order with Indigo, Tusa writes. While admitting orders are important for growth, the analyst points out that GE has "acknowledged chasing deal announcements despite unfavorable price," and has claimed to "no longer promote market share as the main goal." As a result, recent developments "raise questions around how much change has actually occurred," according to Tusa.

GE General Electric
$10.32

0.04 (0.39%)

05/15/19
JPMS
05/15/19
NO CHANGE
JPMS
Underweight
GE managing Power headlines rather than fundamentals, says JPMorgan
General Electric's headline of 4.5 GWs in gas turbine orders promoted by management on the company's Q1 conference call in April was reaffirmed yesterday with the McCoy data on a headline basis, JPMorgan analyst Stephen Tusa tells investors in a research note. However, a closer look shows externally sold utility grade HDGT orders of ~1 GW, well below both Siemens and MHI and "far from a signal of a change in trend or upside versus our thesis," Tusa adds. The analyst still believes GE is losing market share in a "stable" HDGT market, especially in advanced class. The analyst believes yesterday's reporting is evidence of a "company that appears to manage to headlines rather than on-the-ground fundamentals." Tusa keeps an Underweight rating on shares of General Electric.
05/28/19
JPMS
05/28/19
NO CHANGE
JPMS
Underweight
GE Power bull case overlooks factors out of management control, says JPMorgan
The bull case on GE Power appears to factor in a combination of market recovery and internal execution, but the "stubbornly negative" macro and micro forces that are outside of management's control are being overlooked by investors, JPMorgan analyst Stephen Tusa tells investors in a research note. These include competition from existing players like MHI, Siemens and Ansaldo, who continue to develop new products, while emerging competition from China is coming, says Tusa. The analyst believes the consensus is banking on a GE Power recovery in 2021/2022. However, the acceleration of the introduction of new turbines from the Chinese "now looks to be firmly within that timeframe," according to Tusa. He keeps an Underweight rating on General Electric shares.
06/03/19
JPMS
06/03/19
NO CHANGE
JPMS
Underweight
JPMorgan continues to see 'little support' for Moody's rating on GE
After Moody's issued an update to its credit rating on General Electric late Friday, JPMorgan analyst Stephen Tusa says he continues to see "little support" for the current rating. By the analyst's analysis of the numbers, things have not been "stable" at GE since Moody's downgrade seven months ago, nor is the company "showing steady progress versus what was expected in November of 2018." In a research note titled "Stable"?, Tusa also points out that GE and Moody's share a board member. He keeps an Underweight rating on shares of General Electric.
06/13/19
WBLR
06/13/19
NO CHANGE
WBLR
Outperform
General Electric shares could hit $16 in 12 months, says William Blair
General Electric shares are likely to "materially outperform" the market over the next 12 months, during which time the stock could rise to $14-$16 or more, William Blair analyst Nicholas Heymann tells investors in a research note after visiting the company's headquarters. The stock closed yesterday up 16c to $10.28. CEO Larry Culp has recently spent a disproportionate amount of his time transforming how GE Power is fundamentally managed, not just operationally right-sized and restructured, adds the analyst. Heymann believes that as confidence grows in Power's turnaround and GE's financial leverage declines further, confidence in the company's outlook is likely to rise. So far in 2019, GE has reported 4 GW of large gas turbine orders and "far less-adverse-than-feared" free cash flow use in Q1, according to the analyst. While likely to report more negative free cash flow use in 2019 than 2018, GE now expects Power to be profitable this year, he points out. Heymann keeps an Outperform rating on General Electric.

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$53.70

0.04 (0.07%)

, PAYX

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-1.41 (-1.64%)

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Earnings
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BAX

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FB

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PCG

PG&E

$21.62

-0.02 (-0.09%)

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KMI

Kinder Morgan

$20.58

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MU

Micron

$32.71

-0.47 (-1.42%)

, FDX

FedEx

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-4.88 (-3.03%)

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MU

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CMCSA

Comcast

$42.75

-0.85 (-1.95%)

, CMCSK

Comcast

$0.00

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NBC to pull 'The Office' from Netflix in 2021, CNBC says »

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Comcast

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CMCSK

Comcast

$0.00

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NFLX

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FDX

FedEx

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FDX

FedEx

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QD

Qudian

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FDX

FedEx

$156.00

-4.88 (-3.03%)

, AMZN

Amazon.com

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-34.17 (-1.79%)

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FDX

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$156.00

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FDX

FedEx

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FDX

FedEx

$156.00

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FDX

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FDX

FedEx

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FDX

FedEx

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