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

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsUpgradesTop StoriesAnalyst RatingsChristopher GlynnOppenheimer
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!