Marcial: Could GE Be a Cheap Global-Comeback Play?

The stock is trading at depresssed 1997 levels and is sporting its lowest p-e since 1982certainly tempting if you believe a recovery is in the cards

General Electric (GE) has come to symbolize the jarring impact of the swift deterioration of the global financial system and darkening economic outlook. Shares of the once-mighty Wall Street kingpin have tumbled to multiyear lows, as analysts have grown impatient with the giant industrial and media conglomerate's turtle-paced growth. There is also a fair amount of anxiety about the health of GE's finance operations. These factors have prompted many of its Wall Street followers to downgrade the stock and scale back their earnings and sales forecasts for 2008, 2009, and 2010.

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