Bank of America Securities Sticks to Their Buy Rating for GE Aerospace (GE)

Bank of America Securities analyst Ronald Epstein maintained a Buy rating on GE Aerospace yesterday and set a price target of $365.00. The company’s shares closed yesterday at $338.99.

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Epstein covers the Industrials sector, focusing on stocks such as L3Harris Technologies, Aercap Holdings, and Boeing. According to TipRanks, Epstein has an average return of 21.8% and a 69.17% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for GE Aerospace with a $370.83 average price target, which is a 9.39% upside from current levels. In a report released today, TipRanks – xAI also upgraded the stock to a Buy with a $378.00 price target.

Based on GE Aerospace’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $12.72 billion and a net profit of $2.54 billion. In comparison, last year the company earned a revenue of $10.81 billion and had a net profit of $1.9 billion

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GE in relation to earlier this year. Earlier this month, Riccardo Procacci, the SVP of GE sold 800.00 shares for a total of $248,088.00.