The fraud charges of Harry Markopolos are “at best disingenuous and at worst highly inaccurate,” says William Blair’s Nicholas Heymann. He notes GE has had a number of regulators looking over its shoulder for the last couple of years, so he finds it hard to believe the company would fraudulently misrepresent its numbers (Heymann may or may not be right, but this reasoning is laughable).
Heymann maintains an Outperform rating.
A Citi note talks about “sufficient shortcomings” in the Markopolos report.
GE +4.9% premarket
Source : Google News