Morgan Stanley is now the biggest General Electric bull on Wall Street after analyst Josh Pokrzywinski raised his target on the stock to $17 on Thursday, up from his prior forecast of $13.
Shares of GE briefly topped $14 per share after the markets opened Thursday, setting a new 52-week high before paring gains and trading up about 1%. The stock is up about 25% since Jan. 1.
Pokrzywinski noted that there’s “a lot of room to grow in Aviation,” which is typically the company’s most profitable business. That unit has dragged down the Boston-based conglomerate during the pandemic as global travel came to a standstill, hammering demand for GE-manufactured jet engines.
GE CEO Larry Culp said…