Longtime bearish analyst Stephen Tusa of J.P. Morgan upgraded shares of General Electric to neutral from underweight on Thursday and removed the stock from the firm’s short idea list, saying the embattled industrial giant now has a more “balanced risk reward at current levels.”
“Key to the story, in our view, is the outcome of ‘known unknowns’ in near term, which are better understood and around which debate is more balanced, as opposed to being overlooked by most bulls in the past,” Tusa wrote in a note Thursday.
