Sep
07
GE’s Slump to Deepen Even After $64 Billion Slide, JPMorgan Says
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‘Future growth is uncertain,’ writes analyst Steve Tusa
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Manufacturing giant has been biggest loser on Dow this year
General Electric Co.’s stock slide is poised to get worse, according to JPMorgan Chase & Co., extending a slump that already has wiped out $64 billion in market value this year.
As the maker of power turbines and oilfield equipment grapples with weakness in several key businesses, GE is likely to be capped around $24 a share, JPMorgan analyst Steve Tusa said in a note Thursday. He said he sees “something in the high teens as an investable fair value.” The shares ended Wednesday at $24.92 and haven’t closed below $20 since July 2012…
GE’s Slump to Deepen Even After $64 Billion Slide, JPMorgan Says
