GE says liquidity is 'sound' after analyst cuts target, stock falls

GE says liquidity is 'sound' after analyst cuts target, stock falls

General Electric Co said on Friday that it has "sound liquidity" after a JPMorgan analyst slashed his stock price target, sending shares down 9 percent.

FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine pla
FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo

NEW YORK: General Electric Co said on Friday that it has "sound liquidity" after a JPMorgan analyst slashed his stock price target, sending shares down 9 percent.

"GE is a fundamentally strong company with a sound liquidity position," GE spokeswoman Jennifer Erickson said in a statement. "We are taking aggressive action to strengthen our balance sheet through accelerated deleveraging and position our businesses for success."

(Reporting by Alwyn Scott)

Source: Reuters

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