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General Electric received an upgrade from JPMorgan's Stephen Tusa on Thursday, Dec. 13.
Tusa lifted his rating to "neutral" from "underweight", a view he had held since May of 2016, and although he maintained an $8 price target on the stock, he said the ""known unknowns" surrounding the company are now easier to quantify.
"Key to the story, in our view, is the outcome of 'known unknowns' in near term, which are better understood and around which debate is more balanced, as opposed to being overlooked by most bulls in the past," Tusa said. "We now believe a more negative outcome one these liabilities (equity dilution is one) is at least partially discounted, and it's possible the company can execute its way through an elongated workout that limits near-term downside."
GE is also Real Money's stock of the day.
You can find more coverage on General Electric on Real Money:
- General Electric Initiates $1.2 Billion Industrial IoT Effort as Stock Rebounds
- GE Stock Surges Higher on Key Analyst Upgrade
- General Electric's Larry Culp Is Good, Real Good
- General Electric Doesn't Deserve Your Time or Your Money
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