GE: shares impacted by broker downgrade.

(CercleFinance.com) - GE shares are impacted by a broker downgrade on Monday, making the stock the sharpest faller on the Dow Jones index, down almost 4%.


UBS has downgraded its rating on the US industrial giant from "buy" to "neutral" and has cut its corresponding target price from 31 dollars to 24 dollars.

"This is on the back of a disappointing quarter and at least a 2017 cut and previewing an expectation reset ahead," said the analyst.

UBS said it also expects lower earnings in 2018, which the broker expects to be a "reset year," after which it expects earnings will grow again.

GE shares are currently down 3.7% at 22.9 dollars after these comments.

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