GE Aerospace initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of GE Aerospace (GE) with an Overweight rating and $425 price target The firm says GE Aerospace is a “best in class” aerospace and defense company with a “deep competitive moat” in a long cycle industry defined by high barriers to entry. The company is a “structural winner” positioned to benefit from ongoing upward revisions to earnings and free cash flow, the analyst tells investors in a research note. Morgan Stanley sees a positive risk/reward skew of 2.9-times at current share levels.