GE Aerospace (GE) stock touched a new 52-week high of $381.12 on Thursday, with the stock trading at around $378.80 in early trading, up roughly 1% on the day.
The move came after two analyst upgrades landed in quick succession — both pointing higher.
Citi analyst John Godyn raised his price target on GE by 22%, from $353 to $431 a share. That’s now the highest target on Wall Street, sitting $31 above the next closest, and implies a market cap of around $475 billion — about 25% above current levels.
Godyn values the stock at roughly 48 times estimated 2027 earnings, a high multiple, but one he backs up with a forecast of nearly 20% annual earnings growth in the coming years.
Jefferies went even further, lifting its target from $365 to $455 while keeping a Buy rating. At current prices, that target implies around 21% upside.
Despite the average analyst price target sitting below current levels at around $352, 85% of analysts covering GE rate it a Buy. The stock is up 54% over the past year and nearly 22% year-to-date.
Godyn’s thesis leans heavily on the aerospace aftermarket cycle. When air travel demand outpaces new jet deliveries, airlines lean on parts and service for existing fleets — and that’s where suppliers like GE make their best margins.
“We believe GE is exceptionally well positioned to capitalize on our bullish view of the aftermarket cycle in commercial aerospace as well as experience continual growth in its Defense business,” Godyn wrote.
Jefferies echoes that view. The firm projects Q2 segment profit with Services revenue up 20% year-over-year and Commercial Engines and Services margins hitting 26.5%, leading to EPS of $1.84 versus the consensus estimate of $1.86.
Jefferies also expects LEAP engine deliveries to grow 20% — up from earlier guidance of 15%.
GE Aerospace reports Q2 earnings on July 16. Jefferies expects the company to raise its full-year operating profit guidance by around 4.5% at the midpoint, landing in the $10.35 billion to $10.65 billion range, compared to the current analyst consensus of $10.41 billion.
The firm also sees Services growth guidance lifted to the high-teens to 20% range, up from mid-teens previously.
GE recently declared a quarterly dividend of $0.47 per share, payable July 27 to shareholders of record by July 6.
The company also recently signed a Memorandum of Understanding with Wolfspeed to work on high-voltage silicon carbide technology for aerospace, industrial, and defense use.
Seaport Global Securities initiated coverage with a Buy rating and a $375 target, viewing recent underperformance as a buying opportunity.
GE stock bottomed below $275 in late March as rising oil prices raised concerns about air travel demand. It has since recovered sharply heading into earnings on July 16.
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