General Electric Disappoints In Russia, India: Citigroup

NEW YORK ( TheStreet) -- General Electric ( GE) held a conference in Brazil Wednesday highlighting its emerging markets prowess, though Russia and India were largely absent from the agenda, according to a Citigroup analyst.

Noting what he called the "biggest surprise," from the presentations, Citigroup analyst Deanne Dray pointed out that "Russia and India were not part of the GE growth showcase."

"Even though they represent the "R" and "I" in the BRIC moniker, GE did not have a country head from either Russia or India on the agenda," Dray observed. He argues GE's "revenue contribution in Russia is still relatively small," while describing India growth as "somewhat disappointing."

Still, Dray notes that General Electric "remains confident about achieving its longer term emerging markets revenue and profitability targets."

An email message to General Electric spokesmen early Thursday drew no immediate response.

-- Written by Dan Freed in New York.

Follow me on Twitter

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Emerging Markets

U.S. Considers New Tariffs on Imported Vehicles

U.S. Considers New Tariffs on Imported Vehicles

Video: Here's How Global Stocks Can Boost Your Portfolio

Video: Here's How Global Stocks Can Boost Your Portfolio

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

U.S. Stock Futures Steady; Asia Stocks Mostly Lower