What Happened
Jefferies Cuts Price Target To $435 Amid Strong Revenue
GE Aerospace’s stock has faced a lower target from Jefferies, which retained its Buy rating while cutting the target from $455 to $435. The move comes after the company reported Q2 revenue of $13.3 billion, up 21% year over year. Adjusted revenue reached $12.6 billion, with adjusted EPS of $2.02 and free cash flow rising 43% to $3.0 billion. The company’s full-year adjusted EPS guidance remains at $7.65-7.85. This news was first reported by Unknown Source.