GE may have some issues right now — but two analysts are bullish on the stock because they see better news ahead. 'Investors need to pause and take a deep breath,' says Gabelli analyst Justin Bergner.
General Electric may have some issues right now — but two analysts told CNBC on Wednesday that they are bullish on the stock because they see better news ahead.
Culp said at a J.P. Morgan conference on Tuesday that GE's industrial free cash flow in 2019"will be negative." Shares of GE closed down 4.7 percent on the news Tuesday and dropped another 7.9 percent to close at $9.11 on Wednesday. After Culp's comments Tuesday, J.P. Morgan analyst Stephen Tusa said his price target of $6 a share now"looks generous."
"Investors do need to look out past the negative power period, into 2020 and 2021," he said on"Power Lunch." He thinks the stock could get back earning close to $1 per share, will have"better free cash flow conversion and private market value, which is how we look at it, upwards towards $20, high teens per share."
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