General Electric (GE-NYSE)
Close: $17.90 (U.S.), down $1.12
General Electric Co.’s turnaround is likely to be much more protracted than previously anticipated, according to RBC Dominion Securities analyst Deane Dray. He believes the company’s plan fell short of the “sweeping” reset of its business model and portfolio that may had anticipated, leading him to downgrade it to “sector perform” from “outperform.”
Target: Mr. Dray lowered his target to $20 (U.S.) from $25. Consensus is $22.80.