GE Aerospace's stock surged 5.01% intraday on Friday, driven by Citigroup's initiation of coverage with a Buy rating and a bullish price target of $386.

The new coverage highlights optimism around GE Aerospace's position in the commercial aerospace sector, which is benefiting from rising demand for air travel and increasing jet production. Citigroup's analyst John Godyn cited the company as part of a broader "megatrend" in aerospace and defense, with long-term growth potential.

The $386 target represents a significant upside from GE Aerospace's recent closing price of $288.42, fueling investor enthusiasm and contributing to the stock's sharp rise during the trading session.