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Investing.com - Bernstein SocGen Group raised its price target on GE Aerospace (NYSE:GE) to $374.00 from $343.00 on Wednesday, maintaining an Outperform rating on the stock. The new target represents a significant upside from the current price of $300.08, aligning with the broader analyst consensus of 1.44 (Strong Buy). According to InvestingPro, GE has delivered an impressive 80.73% return year-to-date.
The updated price target follows Bernstein SocGen’s visit to GE’s Aerospace Research Center in Albany, NY, where the firm’s analysts met with the company’s management team.
The meeting centered on a Product & Technology Update that highlighted GE Aerospace’s efforts to improve durability for its existing engine programs.
During the visit, GE management also provided insights into the company’s outlook for next generation aircraft engines.
Bernstein SocGen’s analysis of these developments led to the 9% increase in its price target, while maintaining its positive outlook on GE Aerospace’s future performance.
In other recent news, GE Aerospace has reported several significant developments. The company has secured U.S. congressional approval to sell its F404 engines for Turkey’s Hurjet training aircraft, although approval for its F110 engines for Turkey’s KAAN fighter jet remains pending. GE Aerospace and Kratos Defense & Security Solutions have also started altitude testing of the GEK800 engine, designed for unmanned aerial systems and missiles, at Purdue University’s facilities. Vertical Research Partners has raised its price target for GE Aerospace to $340 from $300, maintaining a Buy rating due to the company’s strong earnings and cash flow growth. Additionally, GE Aerospace has reached a five-year labor agreement with over 600 United Auto Workers union members, ending a three-week strike at its Ohio and Kentucky facilities. Meanwhile, U.S. Treasury Secretary Scott Bessent highlighted the leverage the U.S. holds in negotiations with China through exports of aircraft engines and parts, which includes products from companies like GE Aerospace. These developments reflect the ongoing strategic and operational activities within GE Aerospace.
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