An employee works on the production line of pharmaceutical company Zentiva in Prague, Czech Republic, May 6, 2021.
David W. Cerny | Reuters
The health-care sector has wiped out much of its losses for the year during the December market rally. Beaten-down biotech and medical device makers have seen the biggest rebound this month, and analysts see that momentum continuing in the new year.
Still, analysts and strategists have a mixed outlook for the sector in 2024.
“We’re entering the year as an underweight,” said Sam Stovall, chief investment strategist at CFRA. “There’s a lot of overhead resistance, and they have to work through that overhead resistance because a lot of investors might say, ‘let me get out and move on to something that has better growth potential.'”
The second week of January could bring some big moves for health-care names, when companies present at this year’s JPMorgan health-care conference in San Francisco. It is one of the year’s largest health-care gatherings of…
2023-12-22 08:41:09
Post from www.cnbc.com