GE Aerospace's Q3 Results Solid, But Segments Tell Different Stories: Analyst
Portfolio Pulse from Lekha Gupta
Goldman Sachs analyst Noah Poponak reviewed GE Aerospace's Q3 2024 results, noting solid overall performance but mixed segment results. GE reported adjusted revenue growth of 6% Y/Y, with expectations for high single-digit growth continuing. The defense segment underperformed, while commercial engines drove growth. Goldman Sachs rated GE 'Buy' with a $201 price target. GE shares fell 8.69% to $177.36.
October 22, 2024 | 5:56 pm
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NEUTRAL IMPACT
GE Aerospace reported solid Q3 results with 6% Y/Y revenue growth, but segment performance was mixed. The defense segment underperformed, affecting overall EBIT. Goldman Sachs maintains a 'Buy' rating with a $201 price target.
GE's Q3 results showed solid revenue growth, but mixed segment performance, particularly in defense, led to a neutral short-term impact. Despite a 'Buy' rating from Goldman Sachs, the stock fell 8.69%, indicating market concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Investors can gain exposure to GE through the iShares U.S. Aerospace & Defense ETF (ITA), which may be impacted by GE's mixed segment performance and stock price decline.
ITA, as an aerospace and defense ETF, includes GE. GE's mixed results and stock decline could affect ITA's performance, but the diversified nature of the ETF may mitigate direct impacts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The TCW Transform Systems ETF (NETZ) offers exposure to GE, which reported mixed Q3 results. GE's stock decline may influence NETZ's performance.
NETZ includes GE, and its performance may be influenced by GE's mixed Q3 results and stock price drop. However, the ETF's broader focus may cushion direct impacts.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 40