GE headed lower because key aviation business is worth less than believed, analyst says [CNBC]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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Source: CNBC
GE headed lower because key aviation business is worth less than believed, analyst says Luke Sharrett | Bloomberg | Getty Images An employee helps install a traction motor onto the truck of a General Electric Evolution Series Tier 4 diesel locomotive at the GE Manufacturing Solutions facility in Fort Worth, Texas. But one Wall Street analyst says the profitable unit is worth much less than the $40 billion that Apollo Global Management may bid "While GECAS is widely considered to be the crown jewel of the GE Capital portfolio ... upon closer examination it appears that the GECAS assets could be overstated," Gordon Haskett's John Inch wrote in a note to investors Thursday. "Moreover, we do not believe that GECAS would fetch anywhere close to the book value of its assets in a potential sale, while the proceeds to GE could end up a fraction of the sale price," Inch added. GECAS had a "book value" of $40.6 billion as of the third quarter of 2018. Inch said he believes the business is "wort
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APO
Earnings
- 2/8/24 - Beat
APO
Sec Filings
- 4/11/24 - Form 4
- 3/21/24 - Form 4
- 3/5/24 - Form 4
- APO's page on the SEC website