We recently published 10 Big Names Leaving Wall Street in the Dust; 4 to cool heights. GE Aerospace (NYSE:GE) was one of the best performers on Friday.
GE Aerospace rallied for a second day on Friday, jumping 3.95 percent to close at $299.81 apiece, as investor sentiment was fueled by Citigroup’s bullish stance in its first coverage of its stock.
In a market report, Citigroup gave GE Aerospace (NYSE: GE) a “buy” recommendation with a price target of $386, representing an upside potential of 28.75% from its last closing price.
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The coverage reflects the investment firm’s confidence in GE Aerospace (NYSE: GE) to become a multibillion-dollar company in just five years, amid a number of megatrends and opportunities in the commercial aerospace, defense, shipbuilding and space sectors.
Separately, GE Aerospace (NYSE: GE) said its Marine Engines & Systems unit recently secured eight orders for LM2500 gas turbine marine engines for two of the U.S. Navy’s Flight III Arleigh Burke-class guided-missile destroyers.
The destroyers – USS Intrepid (DDG 145) and USS Robert Kerrey (DDG 146) – are both powered by four LM2500 engines, providing the proven propulsion power that has made the Arleigh Burke class the backbone of the US Navy’s surface fleet for more than three decades.
“The LM2500 has been the engine of choice for the U.S. Navy’s destroyer fleet for decades, and we are proud to continue that legacy as the Navy works toward its goal of 390 ships,” said Mark Musheno, vice president of sales and marketing for GE Aerospace (NYSE: GE).
“GE Aerospace is committed to increasing its production capacity to meet the growing needs of the Navy fleet while maintaining the quality and reliability that have made the LM2500 the most reliable marine gas turbine in naval service in the world,” he added.
While we recognize GE’s potential as an investment, our conviction lies in the belief that certain AI stocks have more promise in terms of higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also a top beneficiary of Trump’s tariffs and relocation, check out our free report on the best AI stock in the short term.
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Disclosure: None. This article was originally published on Initiated Monkey.
