GE: Credit Suisse confirms rating and target price.
(CercleFinance.com) - Credit Suisse has confirmed its "outperform" rating on the General Electric stock, along with its target price of 30 dollars, after the departure of several key executives.
The Swiss bank points out that on 6 October, CFO and Vice-President Jeff Bornstein said that he would be leaving GE on 31 December 2017, while two other vice-presidents, John Rice and Beth Comstock, would retire on the same date.
While the CFO's departure has nothing to reassure investors; the short-term financial outlook has already been considerably lowered, Credit Suisse said, which believes that few people expect strong performance in the third quarter.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Swiss bank points out that on 6 October, CFO and Vice-President Jeff Bornstein said that he would be leaving GE on 31 December 2017, while two other vice-presidents, John Rice and Beth Comstock, would retire on the same date.
While the CFO's departure has nothing to reassure investors; the short-term financial outlook has already been considerably lowered, Credit Suisse said, which believes that few people expect strong performance in the third quarter.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.