According to the online Seeking Alpha, J. P. Morgan analyst Stephen Tusa (Tusa Stephen) lowered its target for the stock General Electric (GE) to $20 dollars with $22, while Reaffirming the rating at “Underweight” (“lower market”), as it believes that the reduction of dividends by the company is “increasingly likely”.
Tusa has again reduced its estimate of profit of GE in the third quarter to reflect lower revenues and profits in the segment Energy and Oil and gas as well as higher restructuring costs. Given the fact that the Board of Directors recently welcomed new members who will probably insist on a rapid improvement of the situation may be different scenarios, including complete interruption of dividend payments, says Tusa.
GE plans to present financial results at the end of the third quarter on October 20.
GE shares fell in premarket trading to $23.18 (-0.77%).
Information-analytical Department Forex club