Bernstein hikes GE Aerospace PT on stronger engine services outlook

Bernstein lifts PT on aircraft engine maker GE Aerospace GE.N to $405 from $374, reiterates rating at "outperform"

New PT implies an upside of 17.1% from the stock's last close

Bernstein says co's improving outlook is driving higher expectations for widebody services, supported by stronger GEnx and GE90 workscope and pricing

Expects GE's narrowbody CFM56 shop visits to remain above 2,300 through at least 2030, as capacity constraints and strong demand continue to delay maintenance

Shares of the company down nearly 2% at about $340 premarket

19 of 22 brokerages rate the stock "buy" or higher, 2 "hold" and 1 "sell" ; their median PT is $362.50 - data compiled by LSEG

As of last close, shares had risen 12.2% YTD