BofA Raises GE Aerospace (GE) PT to $310, Cites the Company's Raised 2025 Guidance

GE Aerospace (NYSE:GE) is one of the best performing S&P 500 stocks to buy now. On July 28, BofA raised the firm’s price target on GE Aerospace to $310 from $230, while keeping a Buy rating on the shares. This sentiment by the firm followed the company’s raised 2025 guidance and 2028 expectations for double-digit compound annual growth in revenue and $11.5 billion operating profit.

GE Aerospace reported adjusted revenue of $10.2 billion in Q2, which is an increase of 23% year-over-year. This was driven by a 30% rise in its Commercial Engines & Services/CES revenue and a 7% increase in its Defense & Propulsion Technologies/DPT revenue. Total orders were also up significantly, increasing by 27% year-over-year.

Adjusted EPS grew by 38% to $1.66. The company also generated $2.1 billion in free cash flow, nearly doubling the amount from Q2 of the previous year. This strong cash position is backed by a robust backlog of over $175 billion, with commercial services accounting for more than $140 billion.

GE Aerospace (NYSE:GE) designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems.

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Disclosure: None. This article is originally published at Insider Monkey.