GE shares surge after analyst downplays ‘known unknowns’ Independent.ie GENERAL Electric climbed in pre-market trading as JPMorgan analyst Steve Tusa upgraded the company to neutral from underweight as the liabilities and “known unknowns” are better understood and reflected in the stock price. https://www.independent.ie/business/world/ge-shares-surge-after-analyst-downplays-known-unknowns-37625389.html https://www.independent.ie/world-news/article37624975.ece/e7b70/AUTOCROP/h342/PANews_P-84d24705-7fda-4457-8ef3-a95ef933d986_I1.jpg Email GENERAL Electric climbed in pre-market trading as JPMorgan analyst Steve Tusa upgraded the company to neutral from underweight as the liabilities and “known unknowns” are better understood and reflected in the stock price. While the challenges remain the same – the need to reduce debt and pension liabilities, restructure the power business and improve free cash flow – an equity capital raise would help address the leverage issues and also protect the balance sheet from a potential downturn, Mr Tusa wrote in a note yesterday. However, he warned that a reset in free cash flow expectations may be necessary, even as it could provide a bottom for the stock. “We believe a more negative outcome on these liabilities (equity dilution, for one) is at least partially discounted, and it’s possible that the company can execute its way through an elongated workout that limits near-term downside,” Mr Tusa wrote in the note. Mr Tusa had been… Read full this story
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