Operational Wins For General Electric: Analyst Sees Potential Upside From Vernova Spin-Off And Aerospace Growth
Portfolio Pulse from Lekha Gupta
BofA Securities analyst Andrew Obin is optimistic about General Electric Company's (NYSE:GE) future, citing potential upside from the upcoming Vernova spin-off and growth in the Aerospace sector. GE's Q4 FY23 earnings surpassed expectations with adjusted revenue of $18.5 billion and adjusted EPS of $1.03. The company forecasts Q1 adjusted EPS of $0.60 to $0.65 and expects FY24 revenue of $34 billion-$35 billion for GE Vernova and low double-digit growth for GE Aerospace. Obin maintains a Buy rating on GE with a $135 price target.
January 23, 2024 | 6:22 pm
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POSITIVE IMPACT
General Electric's Q4 earnings beat and positive outlook, especially with the upcoming Vernova spin-off and Aerospace growth, could lead to a near-term stock re-rating. Analyst maintains a Buy rating with a $135 price target.
The positive earnings report and the analyst's optimistic outlook, including the Vernova spin-off and Aerospace growth, are likely to instill investor confidence and could lead to a short-term increase in GE's stock price. The maintained Buy rating and high price target further support the potential upside.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100