Why This General Electric Analyst Is Bullish On Heels Of GE Healthcare Spinoff

Why This General Electric Analyst Is Bullish On Heels Of GE Healthcare Spinoff

Earlier this month, General Electric Company GE announced plans to spin off its healthcare business.

GE Healthcare Holding LLC (GEHC) remains on track to trade independently on April 1, 2023, according to Oppenheimer.

The Analyst: Christopher Glynn upgraded the rating for General Electric to Outperform, while keeping the price target unchanged at $104.

Check out other analyst stock ratings.

The Thesis: There is strong momentum in aviation, with a recovery in the aerospace industry, Glynn said.

General Electric has exhibited “strong execution amidst widespread industry supply-chain challenges impacting the commercial business and internal production challenges serving military markets,” the analyst added. "At Power, consistent and broad-based profitability improvement affirms intact turnaround trajectory/runway, even if mediocre absolute profitability as yet."

“Potential catalysts include LTC/insurance separation and sustained growth break-out at $4.2B/'22E military."

GE Price Action: Shares of General Electric had risen by 1.52% to $85.95 in pre-market trading on Tuesday.

Next: GE Reports Pricing Of $8.25 Billion Debt Offerings

Posted In: Christopher GlynnOppenheimerAnalyst ColorNewsUpgradesTop StoriesAnalyst Ratings