For GE, '2019 Is Shaping Up To Be Much Like 2018': JPMorgan
General Electric (GE) has a new strategic plan, but it's unlikely to revive the slumping GE stock anytime soon, according to JPMorgan.
Last week, GE said it plans to shed its health care and Baker Hughes (BHGE) oilfield-services businesses over the next few years to reverse a profit slump. General Electric will focus on power, aviation and renewable energy instead.
"Perhaps not well understood is that 2019 is shaping up to be much like 2018," JPMorgan analyst Steve Tusa wrote Monday, making note of "heavy restructuring and little relief" in GE's core power business.