In a report released today, Gautam Khanna from TD Cowen maintained a Buy rating on GE Aerospace, with a price target of $330.00.
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Gautam Khanna has given his Buy rating due to a combination of factors that highlight GE Aerospace’s strong performance and potential for growth. The company reported a significant earnings per share beat in the third quarter, driven by robust aftermarket demand and improvements in the supply chain. This prompted an upward revision in guidance for LEAP engine deliveries, indicating confidence in continued operational gains.
Additionally, the aftermarket services segment showed impressive year-over-year growth, with increased sales in external spares and service visits. Despite conservative guidance for the fourth quarter, the backlog growth and price increases for spares suggest potential for better-than-expected results. The supply chain has shown sequential improvements, and management’s outlook for future services growth remains positive, further supporting the Buy rating.
In another report released on October 16, RBC Capital also maintained a Buy rating on the stock with a $340.00 price target.