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GE, ADM among JPMorgan's stocks to short in 2017

Dec. 02, 2016 2:32 PM ETGeneral Electric Company (GE) StockGE, CHRW, ADM, FHI, CSOD, FET, INTEQ, VALBy: Stephen Alpher, SA News Editor32 Comments
  • JPMorgan is out with its top stock picks for 2017, but as Jack Hough of Barron's points out, the "shorts" list is far more interesting because Sell recommendations from the sell-side are so much rarer than Buys.
  • Of the 14-name shorts list, nine have price targets 10% or more below the current level.
  • GE has 10% potential downside thanks to its too-rich valuation relative to free cash flow versus peers.
  • Federated Investors (NYSE:FII) could fall 14% thanks to its exposure to the struggling active-management industry.
  • Trucker C.H. Robinson Worldwide (NASDAQ:CHRW) has 16% downside as favorable contracts reset to depressed industry levels.
  • Archer Daniels Midland (NYSE:ADM) has a price target 18% below the current value as a strong dollar and trade troubles with Mexico crimp profits.
  • A 45% price decline could be in store for driller Forum Energy Technologies (NYSE:FET), with good assets and a healthy balance sheet, but way too fancy of a valuation.
  • There's also Intelsat (NYSE:I), which JPMorgan says could be a zero as new competition squeezes the heavily leveraged company.
  • Other shorts: Cornerstone OnDemand (NASDAQ:CSOD), Ensco (NYSE:ESV).

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