Analyst Larry Biegelsen of Wells Fargo maintained a Buy rating on GE Healthcare Technologies Inc (GEHC – Research Report), boosting the price target to $103.00.
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Larry Biegelsen has given his Buy rating due to a combination of factors that reflect a positive outlook for GE Healthcare Technologies Inc. The company reported organic growth of approximately 2% and an earnings per share (EPS) that surpassed both consensus expectations and Wells Fargo’s estimates. Despite challenges in the Chinese market, management anticipates an improvement in the second half of the year, with a low single-digit decline in 2025.
Additionally, GEHC’s revenue guidance of 2-3% includes a strategic approach to the Chinese market and the consideration of tariffs, while the company is set to launch new products shortly. The robust hospital capital expenditure environment further supports optimism about the company’s growth potential. The adjustments to 2025 estimates, including a slight increase in EPS and a raised price target to $103, underscore the favorable outlook. These factors, along with a strong order growth and a significant backlog, contribute to the Buy rating.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $104.00 price target.