Forecast Of The Day: General Electric’s Aviation Revenues
What?
Trefis expects General Electic (NYSE:GE) Aviation Revenues to decline marginally from around $20.8 billion in 2020 to $20.4 billion in 2021 and thereafter rise to around $23 billion in 2022.
Why?
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Sales over 2020 were impacted by the Covid-19 pandemic which hurt demand for air travel, and consequently aircraft production. While we expect business to remain flat over 2021, it should pick up from 2022, driven by the recovery of the aviation industry, GE’s strong market position, and the order backlog for LEAP engines.
So What?
GE stock has outperformed, rising by about 24% year-to-date, and we think the stock has some more room to run as aviation demand continues to pick up. We value the stock at about $15 per share, ahead of the $13 market price.
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