Jim Cramer Discusses Buying Opportunity in GE Aerospace (GE)

We recently published Jim Cramer Discussed Trump, CEOs & These 10 Stocks.  GE Aerospace (NYSE:GE) is one of the stocks Jim Cramer discussed.

GE Aerospace (NYSE:GE) is a jet engine manufacturer. Its shares are up by 45% over the past year and are down by 6.8% year-to-date. JPMorgan hiked the firm’s share price target to $335 from $325 and kept an Overweight rating on the shares in January. One key factor that drove JPMorgan’s optimism was GE Aerospace (NYSE:GE)’s CFM56 high-bypass engine, which the bank believes can offer stable long-term growth. UBS maintained a Buy rating and bumped the share price target to $374 from $368. The bank’s optimism followed GE Aerospace (NYSE:GE)’s fourth quarter earnings, which the bank described as indicating solid fundamentals. Even though the stock fell after the earnings, Cramer defended the firm as he pointed out that the firm had managed to resolve several problems:

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“Carl I urge people to watch Phil’s interview yesterday. Cause they might think that GE was not doing well with that decline. What a buying opportunity, because oh my god, Phil, this [inaudible] maybe greatest turnaround we’ve witnessed in history.

“I thought something was overlooked yesterday that was very important. GE said they’re not having problems getting labor anymore. GE was having the most problems of the companies that I deal with. No problem. Larry Culp told me no problem.”

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Disclosure: None. This article is originally published at Insider Monkey.