GE AerospaceIt is (NYSE:GE) Shares were up 6% as of 11:30 a.m. ET today. The company, formerly General Electric, has been moving forward after some updates from leading financial firms.
GE Aerospace Analyst Updates
Wall Street analysts will likely be busy with GE Aerospace, as the company is no longer part of a multi-industry group. industrial company, but now a standalone aerospace and defense company. This often means that aerospace analysts will cover the stock rather than industry experts.
As such, a Barclays The analyst assumed to cover the company with a price target of $185 and overweight.
Furthermore, German Bank adjusted to take into account the impact of GE Vernova (NYSE: GEV) and lowered GE Aerospace’s price target from $210 to $190. However, to put this new target in context, GE Vernova is trading at $140, and General Electric shareholders received one share of GE Vernova for every four they held in General Electric, so GE Vernova equates to about $35 in “old GE” shares. .
Additionally, the $190 price target implies a 31% premium to the current price. Any way you look at it, Wall Street analysts are bullish on GE Aerospace’s prospects.
Bright perspectives
They have good reason to do so, as the commercial aerospace recovery continues to expand and GE’s joint venture with Saffron, CFM International, continues to aggressively ramp up production of its LEAP engines. The LEAP engine is used on the narrow-bodied workhorses of the sky: the Airbus A320 neo family, the Boeing 737 MAX and the Comac C919. As such, investors can look forward to decades of lucrative secondary market earnings.
Additionally, given the need to inspect RTX(Pratt & Whitney) adapted to turbofan engines (an option on the Airbus A320 neo family) for potential contamination, GE Aerospace can grab market share from RTX. This points to a bright future for the best-managed company in the large-cap aerospace sector.
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Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends RTX. The Motley Fool has a disclosure policy.
Why GE Aerospace Stock Went Up Today was originally published by The Motley Fool
