Shares of General Electric Co fell more than 7 percent on April 8 after J.P. Morgan’s Stephen Tusa, a top-rated analyst, downgraded the stock and further cut his price target to a Street-low of $5.
Tusa, a long-time bear on the stock, cited significant liabilities and little free cash flow to support the company’s ongoing reset and cut his rating to “underweight” from “neutral”, an about-turn from an upgrade in December.
