Why General Electric Company's Shares Plunged Again on Tuesday
Shares of General Electric Company (NYSE: GE) fell as much as 8.2% in trading on Tuesday, continuing a plunge in the stock this week. Tuesday's drop was driven by RBC Capital analyst Deane Dray's downgrade of the stock, a turnaround from a formerly bullish view. At 3:20 p.m. EST shares were down 5.4% on the day.
Dray was one of a small number of analysts who had a positive view of GE's stock but today downgraded the stock to sector perform. The turnaround plan will be "more protracted" than he previously thought. This continued a week of downgrades of GE from Wall Street analysts.
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Source: Fool.com
General Electric Co. Stock
€148.00
0.000%
With 35 Buy predictions and not a single Sell prediction General Electric Co. is an absolute favorite of our community.
With a target price of 162 € there is a slightly positive potential of 9.46% for General Electric Co. compared to the current price of 148.0 €.
