03:05 PM EDT, 04/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

GE has officially spun-off its former GE Vernova (GEV 145 NR) business unit, with GE shareholders receiving one share of GEV for every four shares of GE stock. The new corporate name is GE Aerospace, but the company still trades as GE. Adjusting our estimates to reflect the completion of the spin-off, we cut our 2024 EPS estimate by $0.22 to $4.36 and 2025's by $0.54 to $5.45. Our 12-month target price of $147, cut $27, reflects a 27x multiple of our revised 2025 EPS estimate, in line with GE's aerospace peers. We think GE can achieve approximately 17% revenue growth in 2024 (ex-Vernova), led by its CES business segment, but we think margins may suffer slightly in 2024 as GE tries to ramp up on the upcoming 777X widebody aircraft by Boeing (BA 187 **). GE says it is targeting a dividend of 30% of net income, subject to Board approval. We estimate a starting annualized dividend of $1.31 (subject to approval), and a yield of 0.9%, although GE also plans a $15B share buyback program.