General Electric price target raised to $110 from $90 at Morgan Stanley

Morgan Stanley analyst Joshua Pokrzywinski raised the firm’s price target on General Electric (GE) to $110 from $90 and keeps an Overweight rating on the shares. A standalone GE Aerospace after its spin-off of the Vernova Power and Renewables business will be "a new large-cap Aerospace behemoth," the analyst tells investors. When comparing Boeing (BA) and GE, the key growth driver for both companies is the current aerospace upcycle, which provides multi-year demand visibility, and since GE is a key supplier to Boeing, "the fate of the two companies is largely aligned," the firm says. However, GE "stands out" with a more defensible aerospace portfolio than Boeing, winning each of the four key face-off categories of growth visibility, market share shifts, supply chain and execution risks, leverage and free cash flow generation that the firm analyzed, the analyst added. Morgan Stanley keeps an Equal Weight rating and $220 price target on Boeing.