GE says liquidity is 'sound' after analyst cuts target, stock falls

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© Reuters. FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne© Reuters. FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne

NEW YORK (Reuters) – General Electric Co (N:) said on Friday that it has “sound liquidity” after a JPMorgan (NYSE:) analyst slashed his stock price target, sending shares down 9 percent.

“GE is a fundamentally strong company with a sound liquidity position,” GE spokeswoman Jennifer Erickson said in a statement. “We are taking aggressive action to strengthen our balance sheet through accelerated deleveraging and position our businesses for success.”

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