GE Aerospace Stock Has 17% Upside, According to 1 Wall Street Analyst
GE Aerospace (NYSE: GE), the largest of the three industrial stocks that spun off from one-time industrial behemoth General Electric, reported a strong earnings beat last week, exceeding analyst expectations on both the top and bottom lines. Management promised "a new beginning" and a "multi-year transformation" to its shareholders -- and raised its guidance on both profits and free cash flow to prove it.
At least one interested party seems convinced. On Sunday, Wells Fargo analyst Matthew Akers raised his price target on GE Aerospace stock to $192 a share, implying a 17% upside over the next 12 months from Monday's $164 closing price.
According to data from TipRanks.com, Akers's price target is now the third-highest price target on Wall Street for GE stock. Only Goldman Sachs and Deutsche Bank are more optimistic. In his note, Akers expressed surprise that GE managed to beat "already high expectations" for the company's performance in Q1 2024.
Source Fool.com