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Key Takeaways
- GE HealthCare shares gained Wednesday after Jefferies analysts upgraded their ranking for the inventory to “purchase” and raised their value goal.
- The analysts stated the agency holds a number one place within the diagnostic imaging market, which they count on to develop by mid-single digits.
- Jefferies added enhancing enterprise in China “may very well be one other icing on the cake.”
GE HealthCare Applied sciences (GEHC) shares gained Wednesday after Jefferies analysts known as the inventory a “franchise decide” and made a bullish case for the corporate’s diagnostic imaging enterprise.
Jefferies bumped its ranking for the inventory as much as “purchase” from “maintain,” and raised its value goal to $103 from $95, bringing it above the broader analyst consensus compiled by Seen Alpha at about $95. Shares rose 3.5% to shut at $86.26 Wednesday and have added about 13% over the previous 12 months.
The analysts stated the agency holds a number one place within the diagnostic imaging market, which they count on to develop by mid-single digits. GE HealthCare might additionally profit from market consolidation, they famous.
Jefferies added that enhancing enterprise in China “may very well be one other icing on the cake.” China makes up 12% of the corporate’s gross sales, and GE HealthCare stated in October that macroeconomic weak spot within the nation negatively impacted third-quarter gross sales.