Stock Market News

General Electric Shares ‘Unlikely to Work in Short Term’

2022.07.12 19:26

General Electric Shares 'Unlikely to Work in Short Term'
General Electric (GE) Shares ‘Unlikely to Work in Short Term’ 

Morgan Stanley analyst Joshua Pokrzywinski cut the price target on General Electric (NYSE:GE) shares to $95 from $100 while maintaining an Overweight rating.

Still, the analyst urged clients to “avoid shares in front of 2Q earnings as 2H expectations need to come down.”

While Pokrzywinski acknowledges that shares have already priced in a slower improvement in Health care supply chain and Renewables’ profitability, he still doesn’t see GE shares “working in the short-term.”

“We believe GE has an undemanding valuation and a set of businesses that are generally more recession resistant relative to industrial production, consumer/residential spending, and inventory destocking. This still leaves a catalyst path and a swing to positive earnings revisions to refocus investors on attractive valuation. We believe 2Q earnings will lower expectations, particularly on supply chain (Aviation and Healthcare) and medium term margins in Renewables,” Pokrzywinski wrote in a note.

“As we expect negative revisions to be fairly limited across industrials this quarter as the real economy has not yet caught up to stock performance, GE will likely stand out to the negative. Once this catalyst has passed, we believe shares can start to work and see an attractive bull/bear spread of 3:1 over the next year.”

GE shares are down roughly 35% YTD.

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 75,753.30 2.02%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,835.17 7.09%
tether
Tether (USDT) $ 1.00 0.03%
solana
Solana (SOL) $ 191.23 2.70%
bnb
BNB (BNB) $ 597.55 2.42%
usd-coin
USDC (USDC) $ 1.00 0.09%
xrp
XRP (XRP) $ 0.548802 3.20%
dogecoin
Dogecoin (DOGE) $ 0.192306 0.56%
staked-ether
Lido Staked Ether (STETH) $ 2,836.09 7.07%
tron
TRON (TRX) $ 0.160556 1.76%
cardano
Cardano (ADA) $ 0.382128 8.04%
the-open-network
Toncoin (TON) $ 4.91 4.72%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,344.30 7.07%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 1.69%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,304.18 1.69%
avalanche-2
Avalanche (AVAX) $ 27.10 3.53%
weth
WETH (WETH) $ 2,833.97 7.18%
chainlink
Chainlink (LINK) $ 12.37 4.37%
bitcoin-cash
Bitcoin Cash (BCH) $ 380.31 3.21%
sui
Sui (SUI) $ 2.32 2.55%
polkadot
Polkadot (DOT) $ 4.12 1.83%
leo-token
LEO Token (LEO) $ 6.19 0.36%
usds
USDS (USDS) $ 0.997528 0.39%
uniswap
Uniswap (UNI) $ 9.07 2.17%
litecoin
Litecoin (LTC) $ 71.44 2.33%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,977.62 7.04%
near
NEAR Protocol (NEAR) $ 4.19 2.94%
aptos
Aptos (APT) $ 9.84 6.50%
pepe
Pepe (PEPE) $ 0.00001 12.76%
bittensor
Bittensor (TAO) $ 518.20 0.32%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.41 2.15%
internet-computer
Internet Computer (ICP) $ 7.73 1.71%
dai
Dai (DAI) $ 1.00 0.14%
monero
Monero (XMR) $ 164.19 1.11%
ethereum-classic
Ethereum Classic (ETC) $ 19.95 4.41%
kaspa
Kaspa (KAS) $ 0.118447 0.56%
stellar
Stellar (XLM) $ 0.099348 3.35%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
whitebit
WhiteBIT Coin (WBT) $ 19.37 0.38%
aave
Aave (AAVE) $ 183.75 12.13%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.344015 5.76%
blockstack
Stacks (STX) $ 1.68 2.10%
okb
OKB (OKB) $ 40.12 2.82%
crypto-com-chain
Cronos (CRO) $ 0.087285 3.08%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.43%
dogwifcoin
dogwifhat (WIF) $ 2.37 1.44%
arbitrum
Arbitrum (ARB) $ 0.57315 9.35%
filecoin
Filecoin (FIL) $ 3.76 4.31%
mantle
Mantle (MNT) $ 0.648131 10.19%