GE: Jefferies maintains buy rating
(CercleFinance.com) - Jefferies maintains its Buy rating on the General Electric stock, along with its $120 target price.
The recent contracts ($684m for CH-53K T408 engines through 2027) and orders (300 LEAP-1B MAX-10 engines for Ryanair) are highlighted by the analyst.
Regarding the latter, "GE Aerospace will have a clearer story to tell following the GE Vernova spin in early 2024", which the broker says " is one of the better positioned stories to the aerospace ramp".
The LEAP engine is the only engine powering the fast-growing 737 MAX "and holds >50% share of the competitive A320neo," Jefferies notes.
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