GE Aerospace: Strong fundamentals continue even amid declining flight hours

研报英文原文证据摘录

GE Aerospace: Strong fundamentals continue even amid declining flight hours

Global Research

16 July 2026ab

GE Aerospace Equities

AmericasStrong fundamentals continue even amidst

declining flight hours Aerospace

12-month rating Buy

12m price target US$435.00The fundamental story remains strong despite 2Q not meeting the high bar

Prior : US$426.00

The quarter continues to support our view that demand remains healthy, backlog is still

building, and the primary constraint on growth remains capacity rather than a lack of Price (16 Jul 2026) US$338.14

end-market demand. We reiterate our Buy rating. Ahead of the the quarter, the RIC: GE.N BBG: GE US

debate was not whether GE would beat and raise - this was expected - but whether

results would be strong enough to lift the stock to new record valuation levels. The stock Trading data and key metrics

is down against this high bar, and we hear concern on the deceleration in services orders 52-wk range US$378.68-259.00

growth. As such we don't believe the quarter meaningfully changes the investment Market cap. US$354b

perspective of either bull or bears. However, we also think results continue to support Shares o/s 1,047m (COM)

the long-term growth algorithm with demand remaining strong even amidst declining Free float 100%

flight activity since April. While 22% growth is indeed a deceleration, the 1.3X book to Avg. daily volume ('000) 1,502

bill gives us confidence in upside to company implied mid-teens 2H and double digit Avg. daily value (m) US$487.4

2027, and we are raising our revenue and EBIT estimates slightly in 2026 and beyond Common s/h equity (12/26E) US$17.0b

and see beats/raises continuing with the stock price following. P/BV (12/26E) 22.0x

Aftermarket demand remains strong, although normalization continues.