GE HealthCare price target raised to $93 from $86 at Evercore ISI

Evercore ISI raised the firm’s price target on GE HealthCare to $93 from $86 and keeps an Outperform rating on the shares. The debate on GE HealthCare was “fairly straightforward” heading into Q4 results, centered on whether China could be a headwind given anti-corruption campaign and competitor comments, along with a tougher comp setting the stage for a low-single digit FY24 organic growth year, says the analyst. The firm thought the company “negated the above views on all fronts,” adds the analyst, who says GE HealthCare delivering double-digit EPS growth similar to peers with a higher earnings quality “calls for a rerating.”