General Electric Co. (GE) may soon have to kiss its recent price gains goodbye.

By the market close on Tuesday, GE stock tumbled 4.44% to $14.43. Shares rallied about 1.1% in the previous trading session, but the stock remains down more than 48% in the last year.

Tuesday's fresh losses came amid a pessimistic new note from JPMorgan Chase.

The company's targeted full-year 2018 earnings per share of between $1 and $1.07 is "disconnected" from its free cash flow guidance of 75 cents, according to JPMorgan analysts, Bloomberg reported.

JPMorgan wrote in a note that it thinks General Electric's earnings per share will ultimately come "a step lower," as the $1 estimate isn't realistic. According to JPMorgan, the figure doesn't include continued restructuring or asset sales that will go to the company's balance sheet instead of its shareholders.

"GE isn't a safety stock in a more volatile market," JPMorgan wrote. There is "zero" potential from cost cuts at the company and any possible breakup of the firm would result in "dis-synergies."

Analysts cut their price target to $11 from $14, representing a 23.8% downside for shares from their closing price Tuesday. JPMorgan's new target is also well below Wall Street's average target price of $17.20, according to FactSet data.

More from Stocks

Procter & Gamble Helps Lead Dow Jones After Upgrade From Morgan Stanley

Procter & Gamble Helps Lead Dow Jones After Upgrade From Morgan Stanley

Hey Investors, Don't Let the Bad Times Pollute Your Mind

Hey Investors, Don't Let the Bad Times Pollute Your Mind

Make This Dividend Aristocrat a Staple of Your Portfolio

Make This Dividend Aristocrat a Staple of Your Portfolio

Join Jim Cramer's Club During Our '12 Days of Holiday Deals' Sale and Save 66%!

Join Jim Cramer's Club During Our '12 Days of Holiday Deals' Sale and Save 66%!

It's Harvest Season for Tax Losses

It's Harvest Season for Tax Losses