Paris Air Show 'Mixed' for General Electric (GE) - Cowen
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Cowen analyst Gautam Khanna reiterated a Market Perform rating and $8.00 price target on General Electric (NYSE: GE) after notes from the Paris Air Show.
"Our takeaways from the Paris Air Show were somewhat mixed for GE Aviation, which we acknowledge to be GE’s most attractive franchise," the analyst commented.
- Aviation FCF Details Not Entirely Calming...
- LEAP Program Production Update...
- LEAP Supplier Update...
- Commentary on Aviation Aftermarket - Mgmt disclosed that under 50% of commercial aviation aftermarket sales are derived from the aging CF6/CF34 portfolio (old widebodies and regional jets), which strikes us as a surprisingly high...
- PMA Threat - Mgmt was dismissive of the PMA (i.e. generic parts) threat to its Aviation aftermarket franchise, & insisted that the recent IATA agreement (linked here) simply codifies GE's prior approach to PMAs...
Shares of General Electric closed at $10.42 yesterday.
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