BUZZ-KBC ups Philips to 'buy' after results on track despite macro headwinds

GE Healthcare Technologies Inc.
Koninklijke Philips N.V. Sponsored ADR

GE Healthcare Technologies Inc.

GEHC

0.00

Koninklijke Philips N.V. Sponsored ADR

PHG

0.00

** KBC Securities upgrades health technology company Philips PHG.AS to "buy" from "accumulate" after it posted a "solid" Q1 and confirmed its guidance

** While the broker expects Q2 to be softer, it was "encouraged" by Philips reiterating its outlook, while industry peers GE Healthcare GEHC.O and Siemens Healthineers SHLG.DE lowered theirs

** Philips appears better positioned to offset cost inflation and China headwinds, it says

** While the share price has yet to reflect the group's strong performance, KBC believes the group is attractively valued

** Out of 23 analysts that cover Philips, eleven rate the stock "strong buy" or "buy" and twelve "hold", with no sell rating - LSEG data


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