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BUZZ-Bernstein hikes GE Aerospace PT on stronger engine services outlook

Reuters
Mar 03
BUZZ-Bernstein hikes GE Aerospace PT on stronger engine services outlook

** Bernstein lifts PT on aircraft engine maker GE Aerospace GE.N to $405 from $374, reiterates rating at "outperform"

** New PT implies an upside of 17.1% from the stock's last close

** Bernstein says co's improving outlook is driving higher expectations for widebody services, supported by stronger GEnx and GE90 workscope and pricing

** Expects GE's narrowbody CFM56 shop visits to remain above 2,300 through at least 2030, as capacity constraints and strong demand continue to delay maintenance

** Shares of the company down nearly 2% at about $340 premarket

** 19 of 22 brokerages rate the stock "buy" or higher, 2 "hold" and 1 "sell" ; their median PT is $362.50 - data compiled by LSEG

** As of last close, shares had risen 12.2% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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