General Electric’s 2023 Analyst Meeting Review
<p>RBC Capital analysts provided their takeaways from <a href='https://financialmodelingprep.com/financial-summary/GE'>General Electric (NYSE:GE)</a> 2023 Analyst Meeting, where the company’s 2023 guidance was reaffirmed, but the bigger surprise was that management raised its long-term organic growth and free cash flow conversion targets for both GE Aerospace and GE Vernova. </p>
<p>The Aerospace organic growth long-term target was boosted from mid-single-digits to mid-single-to-high-single-digits percentage growth, and free cash flow conversion was raised from 90% to approximately 100%. </p>
<p>At GE Vernova, the long-term organic growth target was raised from low-single-digits to mid-single-digits, and free cash flow conversion was improved from 80%-90% to 90%-110%. Other notable positives in the outlook include Renewables growth of double digits in 2024 (vs. Street estimate of 6.5%).</p>
<p>The analyst raised their price target to $100 from $93 while maintaining their Outperform rating.</p>

NYSE:GE