FAIRFIELD (dpa-AFX) - After gapping open lower, shares of General Electric Co. (GE) have seen further downside over the course of the trading session on Friday. GE is tumbling by 8.1 percent to its lowest intraday level in well over nine years.
The steep drop by GE comes after J.P. Morgan Securities lowered its price target for the industrial conglomerate's stock to $6 per share from $10 per share.
The reduced price target came as J.P. Morgan analyst Stephen Tusa said GE's recent earnings were worse than expected on almost all fronts.
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