Bank of America Securities analyst Craig Bijou reiterated a Hold rating on GE Healthcare Technologies Inc yesterday and set a price target of $82.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Craig Bijou has given his Hold rating due to a combination of factors impacting GE Healthcare Technologies Inc. Despite the company reporting a solid second quarter with revenues and earnings per share surpassing expectations, the market had anticipated even stronger results. This tempered investor enthusiasm, especially after previous quarters showed significant growth.
Additionally, while GEHC raised its full-year guidance for organic revenue growth and earnings per share, these adjustments were largely expected. The company’s conservative approach to tariff impacts, particularly regarding US-China trade relations, adds a layer of uncertainty. Furthermore, the slower-than-anticipated recovery in the Chinese market and potential future impacts on hospital capital expenditures contribute to maintaining a cautious outlook. These factors collectively support the decision to uphold a Hold rating, reflecting both the potential and the risks associated with the stock.
According to TipRanks, Bijou is a 3-star analyst with an average return of 1.7% and a 44.89% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Integer Holdings, Cooper Co, and GE Healthcare Technologies Inc.