Stryker assumed at Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Stryker (SYK) to Overweight from Equal Weight with a price target of $445, up from $370, as the analyst assumed coverage of the stock. The analyst, who gets “anxiety around ortho volumes,” says the firm’s work suggests that even if industry growth has been backlog driven, there’s still a $1B-$2B remaining, underscoring growth in 2025. The analyst also points to M&A optionality and a “solid product cycle.”