Jun 21, 2011
Executives of General Electric (NYSE:GE) said on Tuesday that they expect to win more than $10 billion worth of new orders at the Paris Air Show occurring this week, led by orders for its new engines and expanding business services.
The company also said it saw the potential to supply engines and other systems for 3,000 of Comac Ltds C919s, 33% more than its previous estimate. Comac, founded in 2008, is a Chinese aircraft manufacturer that has yet to begin selling its planes on the market. The C919 is projected to begin deliveries in 2016.
David Joyce, CEO of the GE Aviation unit, said he also saw the opportunity to provide 4,000 of the new A320neo range from Airbus. He added that the company's chief focus is on emerging markets, but that he also sees the potential for 2,000 replacement aircraft in North America.
General Electric has a potential upside of 28.7% based on a current price of $18.82 and an average consensus analyst price target of $24.21.
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