Bernstein analyst Douglas Harned last night initiated coverage of GE Aerospace with an Outperform rating and $201 price target. As a focused aerospace company, GE is “set in a commercial aviation market at a uniquely positive time,” the analyst tells investors in a research note. The firm says the company is the largest player in aircraft propulsion and consistently delivers the highest margins. Bernstein is above consensus on the company’s revenue and cash outlook. Near-term, GE is set to continue benefiting from engine aftermarket demand with the largest percentage of revenue exposure after MTU, contends the firm.
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