General Electric Co.’s AAA rating is “unsustainable” and the company will probably have to cut its dividend, said Stephen Tusa, a JPMorgan Chase & Co. analyst, as he lowered his price target on the shares to $9 from $13.

GE’s industrial and capital finance units both missed JPMorgan’s estimates in the fourth quarter, suggesting his projection for the Fairfield, Conn.-based company this year and next are still too high, Tusa wrote in a note to clients. He cut his per-share profit estimate for 2009 and 2010.

For now, GE will continue to pay the quarterly dividend of 31 cents a share, it said in a statement. The disbursement is payable April 27 to shareholders of record Feb. 23.