GE's Woes Persist As Vetr issues A Downgrade

The Vetr crowd on Thursday downgraded its rating on General Electric Company GE from 4.5 stars (Strong Buy), issued 70 days ago, to 3.5-stars (Buy). Crowd sentiment at the time of the downgrade was mostly positive, with 85 percent of Vetr user ratings bullish.

After a rocky start to the month, GE has remade some of the ground it lost in the first full week of September after receiving some damning commentary from analysts with JPMorgan. In note issued last Thursday, the bank said its own outlook on the company's earnings was much much lower than the consensus set the stock at a price target of $22.

Following JPMorgan's not, shares fell 5 percent to a more than two-and-a-half year low of $23.65. While still below its closing price before the note, GE closed up for the third day in a row on Thursday at $24.26.

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Currently, the Vetr crowd's average price target on General Electric is up at $25.63, which is still well below the average analyst price target of $33.19. Less than 2 percent of Vetr users are holding GE in their watch-lists.