General Electric's (GE) miserable week continues.
Goldman Sachs analyst Joe Ritchie said in a note Friday the struggling industrial giant should think about suspending its dividend for 18 months. Doing so, says Ritchie, will allow GE to conserve cash and carefully plot out its future. Rumors have swirled that GE's dividend is still at risk despite management reducing the payout by 50% in Nov. 2017.
GE's dividend yield currently stands at 3.5%.
"The stock continues to under-perform, -27%YTD (vs. coverage -7%), and we think there's more to come," said Ritchie.
The bearish note from Goldman comes days after GE was booted from the Dow Jones Industrial Average
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