Credit Suisse Cuts General Electric Price Target By 5%

Credit Suisse analyst John Walsh lowered the price target on General Electric Co GE to $116 (an upside of 30.2%) from $122 and maintained an Outperform rating on the shares.
Walsh also updated his quarterly 2022 EPS estimates into GE's analyst day on March 10th, leaving the full year unchanged.
Related: GE Stock Slides As Supply Chain Headwinds Masks Progress
In late February, GE reiterated supply chain challenges across the portfolio, but specifically in Healthcare, Walsh notes, adding that GE called out 300bps-400bps of total company revenue pressure from the supply chain for 2022.
The analyst mentions that price/cost is expected to be negative for the year, though the second half of 2022 is expected to be better than the first half of 2021.
Price Action: GE shares are trading lower by 1.21% at $88.06 during the premarket session on Monday.