Shares of General Electric ( GE) were slightly down during Monday afternoon trading after Morgan Stanley initiated coverage on the company's stock with an "Equal-weight" rating and a $27 price target.

Morgan Stanley analyst Nigel Coe noted that he sees a path towards improved earnings and free cash flow following the company's reset.

Coe also argued that recently named GE CEO John Flannery, who took over for former CEO Jeff Immelt in June, has the opportunity to restore credibility back to the GE name.

He remains sympathetic to the bear-case arguments but disagrees with some aspects, specifically saying "it is naive to assume earnings cannot grow beyond 2018."

What's Hot on TheStreet

Amazon wants to upend every business, or so it seems: New day, a new business Amazon (AMZN) wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.

In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.

The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron (APRN) .

Elon Musk keeping it real for a change: Tesla's (TSLA) Elon Musk just gave the obsessed bulls on his company's future something to strongly consider, TheStreet reports.

Speaking at the National Governors Association Summer Meeting in Rhode Island on Saturday, Musk reiterated that shares of Tesla are trading at a level "higher than we have any right to deserve" based on optimism about the company's future.

"Those expectations sometimes get out of control," Musk added. Meanwhile, TheStreet reports Tesla could be at risk of a nasty surprise soon: the end of tax credits for electric cars in the U.S.

Procter & Gamble under siege: Peltz's Trian Fund Management plans to launch a fight for a board seat at Procter & Gamble PG, making it the largest company to face a proxy battle, The Wall Street Journal reported Monday.

Trian, which owns about $3.3 billion of P&G stock, is said to be seeking a single board seat for Peltz at the company's annual meeting that could take place in October. P&G have reportedly been in talks for five months, but the company is said to have rejected to name Peltz as a director last week.

Sales at P&G -- and its stock price -- have stalled due to pricing pressure and competition.

As TheStreet's Ron Orol reported in June, look for the consumer packaged goods company to announce plans for spin-offs, sales or even a swap out of business units. If major M&A doesn't come soon, a Trian director-battle or white paper chock full of activist demands could be next.

And Trian likely will demand significant M&A activity. Spinoffs and other major deals often follow when the activist investor acquires a large stake. Trian and other activist fund managers often push to have large companies break themselves up with the goal of extracting value by focusing the market on various parts of a business that might be hiding inside confusing conglomerate structures.

General Electric is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GE? Learn more now.

Visit here for the latest business headlines.

Don't Miss these top stories right now:

If you liked this article you might like

The 10 Craziest Pumpkin Spice Items You Can Buy Off Amazon

Hewlett Packard Enterprise Slashing Employees by 10% to Cut Costs

LA Times Tops 100,000 in Digital Subscriptions

Amazon Teams With Food Delivery Service to Launch Amazon Restaurants

Walmart Tests Grocery Delivery Directly Into Your Refrigerator