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GE: Morgan Stanley upgrades to 'overweight,' shares rise

(CercleFinance.com) - Morgan Stanley on Thursday upgraded its rating on GE on the back of the US industrial group's "best-in-class" aviation franchise.

The broker said it has upgraded the stock from "equal-weight" to "overweight" and has lifted its target price from 11 dollars to 14 dollars.

In a note to clients, Morgan Stanley pointed out that it is convinced about the conglomerate's aviation business as the MAX disruption will only prove to be "temporary," while also noting that the cash trajectory of the power unit is improving.

Morgan Stanley started coverage of the share in September 2019 with an "equal-weight" rating.

The GE share is currently up 2.2% at 11.6 dollars on the New York Stock Exchange.

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