GE HealthCare initiated with Overweight, $95 target at Piper Sandler

Piper Sandler initiated coverage of GE HealthCare with an Overweight rating and $95 price target. The recent spinoff from GE gives GE HealthCare the independence and focus to transform into a "more nimble, faster-growing, and more profitable entity," the analyst tells investors in a research note. The firm sees the company providing significant free cash flow each year that could be deployed in a "variety of shareholder-friendly ways." It likes the potential for share appreciation as management executes against its 2023 guidance and 2025 medium-term objectives.