General Electric (GE - Get Report) shares were down 3.6% Friday after John Inch, a Gordon Haskett analyst and prominent GE bear, published a note expressing concern about the company's cash flow problems.
The stock is down 13% since the industrial company reported its latest quarterly results on July 31. The move derailed a rise that saw the shares jump 27% in 2019 to that date on optimism surrounding Chief Executive Larry Culp, who joined last fall.
Haskett has a $7 price target on the company, a significant downside from the stock's $9.49 per share closing price on Thursday. GE shares were trading at about $9.23 Friday afternoon.
"Excluding the impact of factoring, GE's first-half 2019 free cash flow has shown more substantial deterioration -- declining by greater than $2.5 billion, versus first-half 2018," Inch wrote, according to a Barron's article.