Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Morgan Stanley Cuts General Electric Outlook

Morgan Stanley cut its estimates on General Electric (GE).

Analyst Scott Davis says he cut the $1.79 2003 earnings per share estimate to $1.70, and trimmed the 11% growth rate to 9%. Davis says he sees $1.65 2002 earnings per share; he set a $1.85 2004 estimate.

Davis says his actions reflect his concern relating to the pace of an economic recovery, further deterioration in key long cycle markets (power and aerospace), and concern over losses in GE Capital's portfolio. He says third quarter plastic volumes and pricing are weak, and that the timing of a recovery is unclear. He adds that the rest of the short cycle is mixed; strength in GE's NBC and appliances unit were offset by continued weakness in lighting and industial products.

Davis cut the $36 target to $27. He rates the shares as equal-weight; and he says he'd be more interested in the stock at around $21.

blog comments powered by Disqus