GE stock rose nearly 12% as a longtime bear raised rating on the stock, signaling that, as GE moved to revamp its digital business, the worst may be behind the troubled conglomerate.
Since July 2016, GEs stock has lost 78% of its value, while the S&P 500 Index has risen 23%. Years of building up debt and making acquisitions that never paid off led the company to a corporate meltdown during the past couple of years. John Flannery, who replaced Jeffery Immelt in 2017, has sold off assets and struggled to turn the company around.
On Thursday, JPMorgan Chase analyst Stephen Tusa, who had a sell rating on (ge) for more than two years, raised his rating to neutral, prompting GEs stock…
Read the full article at: http://fortune.com/2018/12/13/general-electrics-stock-surges-as-a-longtime-bear-suggests-the-worst-may-be-behind-the-company/?xid=gn_editorspicks