Stryker price target raised to $370 from $345 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Stryker to $370 from $345 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 results for the MedTech sector. While the firm believes that any hurricane related headwind call-outs for Q4 will generally get “a pass” from investors, it could cause companies with elective or deferrable procedure areas to see more muted guide increases, the analyst tells investors in a research note. For the stock, Truist contends that its valuation premium is justified given the company’s high quality above-average diversified revenue growth.