Wells Fargo raised the firm’s price target on GE Aerospace (GE) to $212 from $203 and keeps an Overweight rating on the shares. The firm cut estimates across the aerospace group, as it thinks a global economic slowdown hits both original equipment makers and aftermarket. Wells estimates a modest economic slowdown could reduce aircraft demand by 300 basis points, which translates to a 6% and 10% impact to aftermarket and original equipment sales, respectively.
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