Citi Is Bullish On 125-Year-Old GE HealthCare Stock
Portfolio Pulse from Vandana Singh
Citi has initiated coverage on GE HealthCare Technologies Inc (NASDAQ:GEHC) with a Buy rating and a price target of $82. GEHC was spun off from General Electric (NYSE:GE) in January 2023, with GE retaining a 19.9% stake, later reduced to 13.5%. In 2022, GEHC reported sales of over $18 billion. GEHC shares are currently down 0.78% at $65.77.
September 19, 2023 | 5:36 pm
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POSITIVE IMPACT
Citi has initiated coverage on GEHC with a Buy rating and a price target of $82. The company reported impressive sales in 2022 and is a leading provider of medical technologies and solutions.
Citi's Buy rating and the high price target indicate a positive outlook for GEHC. The company's strong sales in 2022 and its position as a leading provider of medical technologies and solutions further support this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
GE spun off GEHC in January 2023, retaining a 19.9% stake, later reduced to 13.5%. This move could potentially impact GE's financials and stock price.
GE's decision to spin off GEHC and reduce its stake could have implications for its financials. However, the exact impact on GE's stock price is uncertain and depends on various factors, including the performance of GEHC.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70