Shares of General Electric Co. tumbled 5.5% in active trade Monday, after analyst Stephen Tusa at J.P. Morgan went back to being bearish on the industrial conglomerate, citing concerns over valuation and free cash flow. Trading volume topped 860,000 shares, making the stock the most actively traded ahead of the open. Tusa cut his rating to underweight, after upgrading GE to neutral on Dec. 13. He lowered his price target to $5, which is 50% below Friday’s closing price, from $6. With the stock soaring 38% year to date, Tusa said he believes Wall Street is “significantly over-projecting” the bounce in free cash flow in the coming years. He currently calculates FCF at zero, and GE’s power and renewables businesses remain weak, the capital services business will likely consume material cash for the foreseeable future and aviation fundamentals are “weaker than meets the eye,” while high leverage leaves the company vulnerable to liquidity issues. Tusa had helped the stock bounce off a bottom in December, when the long-time bear upgraded GE citing a more balanced risk-reward scenario. The stock has lost 20.3% over the past 12 months, while the Dow Jones Industrial Average has climbed 10.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.