Is GE Aerospace Going to $165? 1 Wall Street Analyst Thinks So
An RBC Capital analyst recently raised his price target on GE Aerospace (NYSE: GE) stock from $160 to $165 and maintained his overweight rating. The update implies a 9.3% upside on the stock over the next 12 months.
The aerospace market is split between original equipment manufacturing (OEM) and aftermarket. Delivery disruptions from mean that its OEM suppliers are likely to reduce their estimates for sales to Boeing this year. This is even more problematic because those suppliers were gearing up their production in line with Boeing's expected production ramp-up for the 737 MAX.
GE Aerospace's joint venture with Safran, CFM International, produces the LEAP engine -- the only engine option for the Boeing 737 MAX. GE management had previously guided for a 20% to 25% increase in unit production of the LEAP in 2024, but given the current situation, it might dial back its forecast.
Source Fool.com
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