Oppenheimer analyst Christopher Glynn reiterated an Outperform rating and $85 price target on General Electric. The analyst said that the shares are roughly 2.5% lower versus the market on Thursday, unwinding relative outperformance the previous two days. Glynn believes the factors at play for the weakness are: GE Healthcare’s financial profile including a benchmark of 85%+ FCF/ANI for the medium term; 2023 specific outlook for GE Healthcare not part of the Investor Day presentation; and over the summer for some time, shares were available in the $60 range, indicating a nice gain to book into year-end for astute timing.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on GE:
- GE HealthCare says headwinds exerting pressuring near-term EBIT
- GE HealthCare says ‘strong opportunities ahead’ for each segment
- GE HealthCare says plans to grow the business ‘organically’
- General Electric to host virtual investor day
- GE HealthCare Spin completion expected after market close on Jan. 3, 2023