NEW YORK—A JP Morgan analyst who has long held a negative outlook on General Electric Co. shares as they have tumbled upgraded his view on the conglomerate’s stock on Dec. 13.
GE shares surged after JP Morgan analyst Stephen Tusa raised his rating on GE shares to “neutral” from “underweight.” Tusa initiated his bearish call on the stock on May 12, 2016; since that time, the stock had dropped 77.7 percent through Dec. 12, and slumped to more than nine-year lows, amid struggles for GE’s power business and concerns about its high debt.
