12/13/2018, 1:02 PM (Source: TeleTrader)
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GE shares jump 10% after JP Morgan upgrade

General Electric shares jumped almost 10% on Thursday during the premarket trade on Wall Street after investment giant JP Morgan's analyst Stephen Tusa upgraded the company's stock from underweight to neutral. According to JP Morgan, the company's current state has more "balanced risk-reward" and that the "known unknowns" pose fewer risks.

"We are increasingly assuming a material equity raise could be necessary, and, in this instance, while we think there would be near-term downside, we also think there could be support at a lower level, and likely a benefit of the doubt for new management with a higher multiple on lower earnings and FCF," Tusa added.

Meanwhile, GE shares jumped 9.54% during the premarket trade at 12:59 pm CET.

Breaking the News / VK