GE: BofA raises target price
(CercleFinance.com) - On Monday Bank of America raised its target price for General Electric shares from $92 to $96, ahead of its next investor meeting, which will take place next Thursday.
The US broker - which maintains its buy rating on the stock - stresses that the industrial group should particularly benefit from the improvement in international air traffic, through its subsidiary GE Aerospace.
BofA says there is a 50% chance that its XA101 engines will be selected to equip the F-35 fighter aircraft, a contract that it says could generate operating profit of one billion dollars per year for GE Aerospace throughout the program.
Regarding Vernova, the conglomerate's energy division, the branch should benefit from the effects of the Inflation Reduction Act (IRA), which should support projects in wind energy, it adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The US broker - which maintains its buy rating on the stock - stresses that the industrial group should particularly benefit from the improvement in international air traffic, through its subsidiary GE Aerospace.
BofA says there is a 50% chance that its XA101 engines will be selected to equip the F-35 fighter aircraft, a contract that it says could generate operating profit of one billion dollars per year for GE Aerospace throughout the program.
Regarding Vernova, the conglomerate's energy division, the branch should benefit from the effects of the Inflation Reduction Act (IRA), which should support projects in wind energy, it adds.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.