GE's (GE) New CEO Culp Seen as 'Credible GE Outsider' - Cowen
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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.
Shares of General Electric closed at $11.29 yesterday.
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