Jefferies analyst Sheila Kahyaoglu maintained a Buy rating on GE Aerospace (GE – Research Report) yesterday and set a price target of $240.00.
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Sheila Kahyaoglu’s rating is based on several promising developments within GE Aerospace. The company has demonstrated strong financial strategies, notably through a significant 29% increase in its quarterly dividend, indicating confidence in its cash flow and financial health. Additionally, GE’s strategic investments in the Middle East for Maintenance, Repair, and Overhaul (MRO) facilities show a commitment to expanding their service capabilities, particularly for the CFM LEAP engines, which are pivotal in the region.
Moreover, GE’s successful contractual agreement with the Indian Air Force for the T700 engines highlights its strong position in international defense markets. This contract is expected to enhance fleet availability and demonstrates GE’s expanding footprint in global aerospace logistics. Furthermore, the robust performance of GE’s CF6 engine family, which powers a significant portion of the world’s wide-body aircraft, reinforces its leadership in the aerospace sector, contributing to Kahyaoglu’s positive outlook on the stock.
Kahyaoglu covers the Industrials sector, focusing on stocks such as Boeing, GE Aerospace, and FTAI Aviation. According to TipRanks, Kahyaoglu has an average return of 12.0% and a 61.41% success rate on recommended stocks.
In another report released today, Redburn Atlantic also initiated coverage with a Buy rating on the stock with a $250.00 price target.