Today’s Research Reports on Stocks to Watch: General Electric and Cisco Systems
General Electric Company shares took a tumble on Tuesday after JPMorgan cut its price target on the stock and had some pessimistic things to say. Cisco has been ordered by a judge to give a status report, along with Arista Networks, in regards on their ongoing legal battle.
RDI Initiates Coverage on:
General Electric Company
Cisco Systems, Inc.
General Electric Company shares closed down 4.44% on nearly 119 million shares traded on Tuesday. It was a grim note and price target slash from JPMorgan Chase that had shares of GE falling yesterday. According to analysts at the firm, General Electric’s full year 2018 earnings guidance of $1 to $1.07 is "disconnected" from its free cash guidance of 75 cents. The firm thinks the earnings per share will even come lower and the $1 estimate is not realistic. JPMorgan wrote, "GE isn’t a safety stock in a more volatile market." The firm thinks there is "zero" potential from cost cuts at the company. They also think that if there were a breakup of the firm, it would lead to "dis-synergies." JPMorgan has cut its price target on GE shares from $14 to $11. According to FactSet data, the average target price on Wall Street for the stock is $17.20.
Access RDI’s General Electric Company Research Report at:
Cisco Systems, Inc. shares closed down 0.86% yesterday but not before hitting a new high of $46.16 during intra-day trading. There was no particular news to explain the event, but it was last week that a judge ordered a joint status report from Cisco Systems and Arista Networks with regards to an ongoing legal battle between the two. United States District Judge Jeffrey S. White of California’s Northern District wrote in a court document filed last Tuesday, "The Court has not received a status report on the investigations and when the parties expect that the stay may be lifted or the case dismissed. White has requested that both companies submit the status report no later than March 23. The ongoing battle between the rivals has lasted over two years with Cisco accusing Arista of stealing its technology and Arista claiming that Cisco is suing just to regain the old business.
Access RDI’s Cisco Systems, Inc. Research Report at:
Our Actionable Research on General Electric Company (NYSE: GE) and Cisco Systems, Inc. (NASDAQ: CSCO) and can be downloaded free of charge at Research Driven Investing.
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