General Electric Co. (GE - Get Report) shares slipped lower Monday after analysts at UBS cut the stock's rating and price target as it suggested investors "take a breather" from its recent gains.

UBS analyst Damian Karas lowered his GE price target to $11.50 from $13.00 per share, and trimmed his forecasts for industrial free cash flow, in a note that argued it was time to "take a breather after recent stock outperformance" amid the industrial group's ongoing turnaround. Karas also cut his rating on the stock to "neutral" from "buy" and reduced his forecast for 2019 industrial free-cash flow to -$1.5 billion and said he sees a cash burn rate of between $1 billion and $2 billion over the second quarter. 

"After the stock's ca. 20% rel. outperformance YTD and the alleviation of bottomless cash pit scenarios dominating the narrative, we believe that we can start to look increasingly at the multi-year turnaround/transformation," Karas wrote. "We believe Power will be important for sentiment despite its relatively small contribution to EV, esp. in light of expected China demand and Siemens' intended listing of their Gas & Power unit."

GE shares were marked 0.6% lower Monday to change hands $10.31 each, a move that would trim the stock's three-month gain to around 13.7%. 

GE's full-year financial guidance, which the group confirmed after its stronger-than-expected first quarter, includes negative industrial flow generation of $1.2 billion, a figure the CEO Larry Culp says will turn positive in 2020 and continue to accelerate after that.

Culp told investors in February that 2019 would be a "year of change" for the group, and pledged to focus on both developing GE's critical power business while reducing debt through asset sales and spin-offs. 

GE, which said continuing earnings for the three months ending in March came in at 11 cents per share, while adjusted GAAP earnings were pegged at 14 cents per share, will publish its second quarter figures on July 31.