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GE HealthCare’s stock slides premarket after UBS downgrade to sell

Clyde Edgerton by Clyde Edgerton
November 27, 2023
in Markets
GE HealthCare’s stock slides premarket after UBS downgrade to sell
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GE HealthCare Technologies Inc.’s stock GEHC fell 2.8% in premarket trade Monday, after UBS downgraded the stock to sell from neutral and cut its price target to $66 from $86. Analysts led by Graham Doyle said a combination of slower order momentum, tough comparables and a lack of pricing tailwinds has left them below consensus on certain earnings metrics. “Our analysis of GEHC’s order intake and the broader market suggests the 3% growth seen YTD is set to worsen in Q4. This combined with a lack of pricing tailwinds in 2024 and toughening end-markets in Patient Care means we are 1% below consensus 2024 revenues and 4%…

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