CNBC's Jim Cramer says was shocked by GE's CEO Larry Culp's modified expectations for the struggling conglomerate's near-term turnaround.
CNBC's Jim Cramer said Wednesday that he was shocked by General Electric CEO Larry Culp's modified expectations for the struggling conglomerate's near-term turnaround.
"I went out with a group of portfolio managers last night. All we wanted to figure out was how bad it really was versus how bad it was," Cramer said. After Culp's remarks, J.P. Morgan analyst Stephen Tusa said GE's announcement of more trouble in 2019 was"worse than expected," adding the firm's price target remains $6 per share but"looks generous."
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