General Electric Co.  (GE) - Get Report shares fell Tuesday following the release of a critical analyst report as the sagging industrial giant's next earnings report looms later this week.

GE's stock price dropped 0.3% to $8.90 following JPMorgan analyst Stephen Tusa's downbeat forecast for GE's upcoming earnings report on Thursday. JPMorgan has set a price target of $6 for GE.

Tusa, whose reports on GE are widely followed, was first negative on the corporate giant back in 2016 when it was trading at more than $30 a share.

Looking to GE's earnings report on Thursday, Tusa sees only bad news for GE's stock.

Tusa wrote his "well-below consensus view" of where GE stands will be confirmed if the company offers detailed updates on its finances. If not, and GE opts for ambiguity, that in itself will be a sign the company doesn't have a "silver bullet-like plan," he noted.

"If we don't get much tangible, bulls can still debate with their own numbers, but we believe it will reinforce the bear case that there is no concrete silver bullet-like plan, and much remains fluid, also negative," Tusa wrote.

Heading into GE's earnings report, Zacks expressed concern about the company's crucial power sector division.

GE draws roughly 20% of its industrial revenue building turbines, generators and combined cycle systems, but the power sector, which once drove the company's growth, is now "grappling with difficult macroeconomic conditions," Zacks noted.

GE's power unit saw revenue plunge 33% in the third quarter from the year before, falling to $5.7 billion.

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