GE's (GE) New CEO Culp Seen as 'Credible GE Outsider' - Cowen

October 1, 2018 9:46 AM EDT
Get Alerts GE Hot Sheet
Price: $12.74 +0.31%

Rating Summary:
    13 Buy, 13 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Cowen analyst Gautam Khanna weighed in on General Electric (NYSE: GE) after the company named former Danaher CEO Larry Culp was named Chairman/CEO of GE effective immediately, replacing former CEO and GE lifer John Flannery.

Khanna expects investors to react favorably to CEO Larry Culp's appointment, calling him a "credible GE outsider".

"Investors will view the change favorably given Culp's successful CEO tenure at Danaher, his GE "outsider" status, and the fact that Culp doesn't "need" the position, having already completed a lucrative & reputable career (he sits on various Boards; is an outside adviser to a PE firm; etc)," the analyst commented.

The firm maintained a Market Perform rating and $14.50 PT.

For an analyst ratings summary and ratings history on General Electric click here. For more ratings news on General Electric click here.

Shares of General Electric closed at $11.29 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Cowen & Co