Jefferies upgraded General Electric stock on Thursday, citing stronger growth in its aerospace sector and its GE Veranova venture.
Jefferies thinks a storied multinational can benefit from strong growth in its aerospace segment. The firm upgraded General Electric to buy from hold with a price target of $120 per share, up from $90. That represents 21% upside from GE's Wednesday closing price of $99.03. Jefferies posits that GE will grow its aerospace sector sales by 16% in 2023 to $30.2 billion.
Jefferies notes that deliveries for the Leading Edge Aviation Propulsion engine, which is a joint project between GE Aviation and Safran Aircraft Engines based in France, have climbed by 50% so far in 2023. GE Vernova, the company's portfolio of energy projects, is expected to split from the company in early 2024 and operate as a separate segment, which could add to growth.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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