(Bloomberg) -- What a difference a weekend makes. After General Electric Co. issued a dire outlook last week, analysts cut their 52-week price targets on the conglomerate, sending shares down as much as 6 percent Monday. JPMorgan Chase & Co.'s Steve Tusa trimmed his forecast to $19 a from $20 while maintaining an “underweight” rating. Morgan Stanley's Nigel Edward Coe went further, slashing his target to $22 from $25 and downgrading the stock to “underweight.” Still, the majority of analysts surveyed by Bloomberg have the equivalent of a “buy” rating for GE, giving the company a consensus target of $25.31.
To contact the reporter on this story: Nancy Moran in New York at nmoran@bloomberg.net.
To contact the editor responsible for this story: Sophie Caronello at scaronello@bloomberg.net.
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