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Fly News Breaks for November 1, 2019
GE
Nov 1, 2019 | 07:38 EDT
JPMorgan analyst Stephen Tusa says there is no change to his view of General Electric coming away from the Q3 results. "At a simplified headline level, there was no smoking gun, though the underlying details show a situation that is far from low risk," Tusa tells investors in a post-earnings research note. The analyst points out that even at the high end of GE's new free cash flow range, or a base of 23c per share, its free cash flow yield is 2%. This suggests that "stability is already more than discounted," says Tusa, who keeps an Underweight rating on General Electric with a $5 price target. The stock closed Thursday down 13c to $9.98.
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