Why General Electric Company's Stock Plunged 7% Today
Shares of General Electric Company (NYSE: GE) dropped as much as 6.7% in trading Monday as Wall Street analysts rushed to downgrade the stock and cast a shadow over its dividend. Shares were at their daily low at 2:40 p.m. EDT and are trading at a level not seen in four-and-a-half years.
Analysts at Morgan Stanley, UBS, and Deutsche Bank all downgraded GE's stock rating or earnings expectations today as they became uncertain about the company's dividend. New CEO John Flannery has said that he may reduce GE's dividend to retain cash for organic growth and reduce pressure on the balance sheet.
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Source: Fool.com
General Electric Co. Stock
€320.10
-1.290%
Currently there is a rather positive sentiment for General Electric Co. with 43 Buy predictions and 5 Sell predictions.
On the other hand, the target price of 305 € is below the current price of 320.1 € for General Electric Co., so the potential is actually -4.72%.
