(News Bulletin 247) – Jefferies raises its recommendation on General Electric from ‘hold’ to ‘buy’ with a price target raised from 90 to 120 dollars, the broker highlighting GE Aerospace as a ‘profitable and high-growth engine franchise ‘.
In the summary of its note, the broker points out that GE Aerospace has a revenue mix composed of approximately 70% of aftermarket services, as well as increasing engine deliveries for LEAP (+ 50% in 2023) and GEnx (+53%).
According to Jefferies, the visibility on margins of approximately 20% expected in 2025 is supported in particular by the progress of LEAP OE, which should lead it from a loss of approximately 200 to 250 million dollars in 2023 to break even in 2026.
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