Gen­eral Elec­tric (GE-NYSE)

The Globe and Mail (BC Edition) - - GLOBE INVESTOR -

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.

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