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.
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Published first on TheFly
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