Oppenheimer Downgrades General Electric
Oppenheimer analyst Christopher Glynn cut General Electric (NYSE: GE) from Outperform to Perform.
Glynn reported that 2014-2015 will be a transitional period for earnings growth. Shares of General Electric now reflect expected earnings shift to 70% industrial in 2015. The analyst commented that in 2015, North America Retail Finance splitoff creates a “lingering overhang” on EPS growth.
General Electric rose 34% in 2013 versus the S&P which was up 30%.
Shares of General Electric closed at $27.50 on Thursday.
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