BofA starts ‘appropriately valued’ GE HealthCare at Neutral

As previously reported, BofA analyst Craig Bijou initiated coverage of GE HealthCare with a Neutral rating and $82 price target. GE HealthCare should be able to capitalize on favorable macro trends and new products to drive sustainable, mid single digit sale growth and it has a “compelling” margin improvement story, but with its multiple nearing the peer group average and the Street modeling margins to increase above peers’, the firm thinks any margin upside is already reflected in the share price and views the stock as “appropriately valued.”