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.
Image source: Getty Images.
Source: Fool.com
General Electric Co. Stock
€155.00
-0.960%
With 41 Buy predictions and not a single Sell prediction General Electric Co. is an absolute favorite of our community.
With a target price of 168 € there is a slightly positive potential of 8.39% for General Electric Co. compared to the current price of 155.0 €.
