Company Of The Day: General Electric
What?
General Electric (NYSE:GE) stock soared by 7% in Thursday’s trading, closing at $14.35 per share, the highest level seen in about three years.
Why?
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The rally comes as Airbus, the world’s biggest planemaker, said that it intends to raise production of its A320 Neo aircraft – which uses GE engines – by about 10% this year. Moreover, there have been reports that Boeing could significantly raise the production of its Max jets. Boeing is GE’s second-largest customer while Airbus ranks third.
So What?
GE saw its aviation business drop by over 30% in 2020 as the Covid-19 pandemic hurt demand for air travel, and consequently aircraft production. However, with the increased production this year, GE’s Aviation revenues are likely to see a strong rebound.
See Our Complete Analysis For General Electric
While we think GE stock looks somewhat overvalued, it is helpful to know how its peers stack up. GE Stock Comparison With Peers summarizes how GE compares against peers on metrics that matter. You can find more useful comparisons on Peer Comparisons.
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