Jefferies initiated coverage of GE HealthCare with a Hold rating and $80 price target. The company is prioritizing a shift to high-growth areas through internal and external investment, and there is a runway for margin expansion, but this view this as mostly baked into the shares, the analyst tells investors in a research note. At this stage, the firm views GE HealthCare’s valuation as “relatively fair.” It thinks consistent execution could lead to modest multiple expansion.
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