Oppenheimer analysts initiated research coverage of GE HealthCare (NASDAQ:GEHC) with a Buy rating and a $97 per share price target.
The target implies an upside potential of about 30% relative to yesterday’s closing price.
GE HealthCare, which was spun off by General Electric (NYSE:GE) earlier this year, is described as “the global leader in healthcare diagnostics, imaging, and intervention.”
“GE's unparalleled depth and breadth of products in X-rays, CT, MRI, ultrasound, services, and digital solutions provide a unique ecosystem allowing multiple touch points along the continuum of care. Following its recent spin-out from the parent company, a more focused GE has emerged with a strategic outlook of a 4-6% revenue CAGR, adjusted EBIT margins of high-teens to twenty percent, and FCF generation of 85%+,” analysts said in a client note.
Hence, analysts are positive on GEHC shares as the company operates in attractive markets while being financially disciplined.
GEHC shares are up 0.5% in pre-market Tuesday.