JPMorgan analyst Stephen Tusa points out that Warren Buffett’s past involvement in General Electric (GE) has ended up being wrong from a “stock and valuation perspective.”
Following this week’s speculation of a potential Buffett stake, Tusa expresses greater conviction in his Underweight rating on GE with an $11 price target. The analyst wonders why, if things aren’t so bad, GE would the company’s need Berkshire’s capital or validation. Buffett or not, numbers matter, Tusa writes in a research note.
The stock in early trading is down 6c to $13.62.
