Goldman Sachs analyst Noah Poponak reiterated a Buy rating on GE Aerospace (NYSE:GE) and raised the 12-month price target to $271 from $257 following the company’s strong second-quarter performance and upward revisions to both near- and long-term guidance.
GE Aerospace posted adjusted revenue of $10.2 billion for the quarter, up 23% year over year, while earnings per share rose 38% to $1.66, topping Wall Street estimates. Growth was driven by strong demand in Commercial Engines and Services, which jumped 30%, and Defense and Propulsion Technologies, which rose 7%.
