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
€147.00
-0.680%
The stock is an absolute favorite of our community with 35 Buy predictions and no Sell predictions.
As a result the target price of 162 € shows a slightly positive potential of 10.2% compared to the current price of 147.0 € for General Electric Co..
