Daiwa Securities downgraded General Electric (NYSE: GE) from Outperform to Neutral with a price target of $24.00 (from $28.00).

Analyst Jairam Nathan said while some investors welcome the earnings reset, they see further uncertainties coming from structurally weak market fundamentals of the Power businesses, potentially higher reserves for the long-term care insurance business (within GE Capital) and changes to earnings and cash flow reporting.

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 $23.83 yesterday.