Bank of America announced on Monday that it had lowered its price target on GE Aerospace shares from $175 to $165, to take account of the GE Vernova spin-off.

In a research note, the broker says it continues to see GE as a prime opportunity to capitalize on the healthy market for civil aircraft engines, as well as the dynamism of the spare parts segment.

BofA points out that GE engines account for the lion's share of the commercial aviation market, with an installed base of some 44,000 engines that it expects to continue to grow, leading it to renew its buy recommendation on the stock.

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