Jefferies assumed coverage of Philips with an Underperform rating and EUR 17 price target. The analyst assumed coverage of the EU MedTech group with seven Buys, two Holds and two Underperforms, noting that as 2023 draws to a close, the EU MedTech sector will have underperformed the broader market for the second year in a row. The hopes for normalized inflation trends and stabilizing interest rates make the EU MedTech an attractive space for investors into 2024, but advises investors be selective and typically favors defensive quality plays, but adds that it also sees value in recovery stories trading at attractive multiples.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PHG:
- Research from Philips and Vanderbilt shows how decarbonizing healthcare also helps to reduce cost
- Philips, Vanderbilt announce results from research on decarbonizing healthcare
- FDA warns of safety issue with Philips’ DreamStation 2 CPAP machines
- Philips launches ultra lightweight, flexible MR Smart Fit coils
- Philips launches ultra lightweight and flexible MR Smart Fit coils to improve radiology productivity and diagnostic confidence at #RSNA23
