The logo of General Electric is pictured at the company’s site of its energy branch in Belfort, France, February 5, 2019.
Vincent Kessler | Reuters
J.P. Morgan analyst Stephen Tusa is sticking to his guns when it comes to General Electric, despite getting “questions and pushback” from his skepticism of GE’s announcement at the Paris Air Show last week.
Tusa said Monday most of his peers deemed the aviation conference to be a win for GE. The company’s aviation unit booked a record number of orders, with GE Aviation CEO David Joyce telling CNBC it brought in a “conservative” $35 billion in new business. The unit is considered the company’s crown jewel, largely because it is a profitable standout in comparison to the other struggling businesses in the GE conglomerate.
“While maybe not made clear enough through the smoke screen of the big order headlines and data points gleaned over 3 days,” Tusa said the overall picture for GE “was on net more negative than even we were thinking when…