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Non-Tech : General Electric (GE)

GE 307.27

+0.7%

Nov 7 9:30 AM EST

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From: E_K_S	11/30/2018 8:48:05 AM
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GE price target cut to $7 at Deutsche Bank on continued cash flow weakness *General Electric's (NYSE: GE) stock price target is cut to $7 from $11 at Deutsche Bank*, saying revenue for the company's struggling power business "remains flattish but does not continue to decline." "We think the key debates can be boiled down to the trajectory of GE Industrial [free cash flow] and whether the company is headed for a liquidity crisis," says Deutsche Bank analyst Nicole DeBlase, adding that the firm's base case assumes "an economic downturn does not happen" through the end of 2021. DeBase sees "execution mishaps" from CEO Larry Culp's strategy review as a key risk moving forward, as well as outside factors such as an economic downturn or geopolitical instability. In Deutsche Bank's base case scenario, GE would see ~$0.34/share of free cash flow in 2019 and $0.25/share in 2020. DeBlase says the firm will "ignore the bull case for now since it probably wouldn't be viewed as credible," but even in a bear case, the firm does not foresee a liquidity crisis and continues to rate the stock as a Hold. -------------------------------------------- May get a shot at some shares at/below $7/share EKS

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