GE management delivered on free cash flow in 2019: Top industrial analyst
Description
J.P. Morgan's Stephen Tusa joins CNBC's "Halftime Report" to discuss General Electric.
Shares of the embattled industrial company rose more than 1% after JPMorgan’s Stephen Tusa, who gained a following on Wall Street for his work on GE after his negative call in May 2016, upgraded the stock to neutral from underweight. Tusa said GE’s recent outperformance is due to two straight quarters of better-than-expected free cash flow, something he underestimated. The firm also raised its price target to $8 from $5, which is still below its current levels.
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