Wells Fargo is confident GE HealthCare can benefit from the growth of a key Alzheimer's drug. The firm initiated coverage of the medical device provider with an overweight rating and a $90 per share price target. Wells' forecast implies nearly 28% upside from Tuesday's $70.54 close. Analyst Larry Biegelsen highlighted the growth of Alzheimer's drug Leqembi as a potential growth driver for GE HealthCare, given that the treatment requires four MRI scans throughout the process.
mountain GE HealthCare year to date — CNBC's Michael Bloom contributed to this report.
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