GE Aerospace price target raised to $216 from $198 at Citi

Citi raised the firm’s price target on GE Aerospace to $216 from $198 and keeps a Buy rating on the shares as part of a Q3 earnings preview for the aerospace and defense group. The firm expects to hear positive commentary from commercial aftermarket suppliers as airlines look to fly older aircraft for longer given Boeing and Airbus production issues and the grounding of hundreds of Airbus aircraft. It also expects defense suppliers to speak constructively about the demand outlook given rising budgets in Europe and supplemental spending bills in the U.S.