After Sell-Off, Vetr Issues Hold Rating On GE

The Vetr crowd on Tuesday upgraded its rating on General Electric Company (NYSE: GE) from 2 stars (Sell) issued two weeks ago, to 3 stars (Hold). Crowd sentiment at the time of the upgrade was mostly positive, with 80 percent of Vetr user ratings bullish.

The downward trend that has gripped GE shares throughout 2017 managed this week to pull the stock below the $22 level, the lowest it has been since 2013. The sharp drop that led to the four-year low came after the company delivered a disappointing Q3 earnings report that showed GE surpassing revenue expectations but falling far short of analyst EPS estimates.

While falling on the open that followed the report, GE's stock fell 8.4 percent only after talk began circulating that the company might soon cut its longstanding dividend payment. By 3 p.m. ET Tuesday, GE was trading at $21.83.

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Currently, the Vetr crowd's average price target on General Electric is up at $22.75, 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.