NEW YORK (TheStreet) -- General Electric (GE) hopes to be given the right to build the engine for South Korea's indigenous fighter jet in partnership with local companies and in exchange support Seoul's global marketing efforts, its Korean branch said today, according to Yonhap, the South Korean news agency.
The South Korean government will soon open bidding for an $8.3 billion fighter jet development project, called the KF-X program, which was approved last month after a decade-long delay, Yonhap said.
Shares of General Electric are slightly higher in pre-market trade.
TheStreet Ratings team rates GENERAL ELECTRIC CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows: