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GE Surges as Biggest Bear Finally Spots Bottom to Epic Slump
- JPMorgan ends sell rating, saying risks are better understood
- Tusa sees potential ‘workout that limits near-term downside’
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General Electric Co. soared as the stock’s biggest bear finally had something positive to say about the crisis-stricken manufacturer.
Steve Tusa, the JPMorgan Chase & Co. analyst who has had a sell rating on GE for more than two years, upgraded the shares to neutral Thursday as he said the “known unknowns” weighing on the balance sheet are better understood. It’s possible, he said in a note, that GE can pull off a recovery without another major stumble.