He said the company is going to be very different looking forward than looking back. New CEO, John Flannery, is going to be focused on return on invested capital and capital allocation. He added that he knows the big reset in earnings is coming, but he believes the company is going to show much better than average growth. Nygren thinks General Electric's business deserves to get back to its normal multiple, if not a premium.
General Electric is not going to earn $2 per share as the prior CEO committed to do, and it is going to be a long time until the company gets to more than $2 per share, said Nygren.
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