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GE

General Electric

$8.11

0.165 (2.08%)

17:50
08/29/19
08/29
17:50
08/29/19
17:50

Federal judge Jesse Furman partially dismisses GE investor suit, Reuters says

Federal judge Jesse Furman, in Manhattan, partially dismissed a lawsuit by investors in General Electric on Thursday "that accused the company of concealing $24B in insurance liabilities and using fraudulent accounting to prop up its power business," reports Reuters. Reference Link

  • 09

    Sep

  • 30

    Oct

GE General Electric
$8.11

0.165 (2.08%)

08/01/19
WBLR
08/01/19
NO CHANGE
WBLR
Outperform
GE operational and financial turnaround building momentum, says William Blair
General Electric's Q2 report yesterday "included further tangible evidence" that its operational and financial turnaround is beginning to build momentum, William Blair analyst Nicholas Heymann tells investors in a research note. GE's year-to-date free cash flow use was $2.2B, down $0.8B from the first half of 2018, while its Industrial organic sales grew sequentially to 7% from 5%, Heymann points out. The analyst reaffirms an Outperform rating on the shares. GE's fundamental prospects and underlying value "continue to remain extremely divergent within the investment community," says Heymann. However, he sees "growing irrefutable evidence that the worst is not only past but also that GE's fundamental forward visibility is gradually beginning to improve as its financial stability returns." The analyst pegs GE's underlying intrinsic value, with no value assigned to Power, between $14 and $16 per share. This range now seems to be a "highly feasible base-case valuation" for the stock over the next 6-12 months, according to Heymann. Shares of General Electric closed yesterday up 2c to $10.45.
08/12/19
JPMS
08/12/19
NO CHANGE
Target $5
JPMS
Underweight
General Electric fundamentals 'continue to look negative,' says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa came away from General Electric's Q2 results with no change to his "well below consensus view." GE Power needs a positive core profit contribution on $1B in negative mix revenue headwind "to just get back to breakeven," Tusa tells investors in a research note. Further, Aviation needs 35% growth in its Military business to hit guidance, adds the analyst. Despite the Street's enthusiasm around a beat to low guidance, GE's fundamentals "continue to look negative," argues Tusa. He keeps an Underweight rating on shares of General Electric with a $5 price target. The stock closed Friday down 34c to $9.15.
08/16/19
WBLR
08/16/19
NO CHANGE
WBLR
Outperform
'The Last Molotov Cocktail?,' asks GE bull William Blair after fraud allegations
In a research note titled "The Last Molotov Cocktail? GE Possesses Adequate Resources to Fund Alleged $18.5 Billion Cash Addition to Loss Reserves, William Blair analyst Nicholas Heymann addresses yesterday's whistleblower report by a forensic accountant alleging fraud at General Electric. The analyst does not believe GE's financial statements purposely misrepresent the company's current financial condition and future potential liabilities. He finds it "hard to believe that GE, which has been engaged with several regulatory reviews of its accounting and financial disclosures for over two years, has fraudulently misrepresented its financial reporting." Further, Heymann finds the effort to portray GE's current financial condition assuming all three alleged cash or noncash charges totaling ~$38B should have been previously recognized is "at best disingenuous and at worst highly inaccurate." The analyst keeps an Outperform rating on General Electric. He believes GE's underlying intrinsic value, with no value assigned to Power, is somewhere in the $14-$16 per share based on enterprise valuations for similar businesses serving the same end-markets. That range is a "highly feasible base-case" valuation for GE's share price over the next 6-12 months, argues Heymann. General Electric closed yesterday down 11%, or $1.02, to $8.01.
08/16/19
GSCO
08/16/19
NO CHANGE
GSCO
GE's LTC statutory reserves per life look greater than peers, says Goldman Sachs
Goldman Sachs analyst Joe Ritchie, in conjunction with Alex Scott, the firm's primary coverage analyst on North American Life Insurance, ran a comparison of Statutory Reserves per life for General Electric's Long-term Care business relative to peers in response to "significant client interest," though the firm is Not Rated on GE. They concluded that GE's statutory reserves per life, adjusted for the reversal of a permitted practice, are greater than any of the peer blocks they were able to locate and that GE's reserve levels compare favorably to peers, though they also said they find this rational as GE's policies have "more aggressive features." The analyst also noted that GE's long term care reserves actuarial review concludes in Q3.

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  • 28

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HRB

H&R Block

$24.48

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-0.1 (-0.50%)

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MSM

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