GE HealthCare downgraded to Sell from Neutral at UBS

UBS analyst Graham Doyle downgraded GE HealthCare to Sell from Neutral with a price target of $74, down from $84. GE HealthCare shares are up 20% year-to-date and close to all-time highs, now trading at a 5% premium to close peer Siemens Healthineers versus a 15% 18-month average discount, the analyst tells investors in a research note. The firm says this is hard to justify given GE HealthCare’s lower growth outlook and implies that investors have higher expectations than even sell-side consensus. Against this backdrop, UBS believes GE’s near- and mid-term growth is likely to disappoint.