• GE is facing a fundamental problem, said JPMorgan analyst Stephen Tusa.
  • The company recently reported disappointing quarterly earnings results.

General Electric is getting slammed Friday, down more than 9%, after JPMorgan slashed its price target from $10 to $6, the lowest on Wall Street. Shares are trading at their lowest level since March 2009.

third-quarter earnings

"The recent pull back seems capitulatory, but the brief share price increase prior to this on a new CEO, along with sell side upgrades adding to the positive shift in sentiment, still pointing to $1 in EPS potential, did not reflect what we now know around the numbers," said Tusa.