GE (GE) Sale of BioPharma Unit 'Additive' to SOTP - Cowen
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Cowen analyst Gautam Khanna weighed in on General Electric (NYSE: GE) after the company agreed to sell BioPharma unit to Danaher for $21.4 billion in cash. He said the valuation is 'additive' to Healthcare's SOTP.
"GE's BioPharma sale to DHR fetched a rich valuation that goes a long way towards GE's debt reduction and therefore, suggests upside to our SOTP math around GE's Healthcare exit," Khanna commented. "The stock should react well to the deal. Moreover, GE posted its event calendar, & now plans its outlook call for 3/14."
The firm maintained a Market Perform rating and price target of $8.00
Shares of General Electric closed at $11.85 yesterday.
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