GE Aerospace (GE) PT Raised to $190 at RBC Capital

RBC Capital analyst Ken Herbert raised the price target on GE Aerospace (NYSE: GE) to $190.00 (from $175.00) while maintaining a Outperform rating.

The analyst comments "GE Aerospace (GE) posted strong 2Q24 results, with total adj. EPS of $1.20 (compared to consensus of $0.99) and revenue of $8.2B (up 4%). The 2Q24 results are the first for standalone GE Aero, and the company led off with a home run in its first at bat. Strong service revenues were consistent with our preview expectations of a beat-and-raise. The margins were helped by soft LEAP deliveries as supply chain challenges persist. We continue to believe GE will benefit from investor concern on OE execution, and we maintain our OP rating, and push our PT to $190 from $175."

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