Stryker price target raised to $427 from $384 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Stryker (SYK) to $427 from $384 and keeps a Neutral rating on the shares after its Q4 earnings beat. The firm notes that based on its view that end-markets should remain stable and cadence of product launches, both ongoing and planned throughout the year, it sees more upside than downside to the revenue growth outlook, the analyst tells investors in a research note. Looking through results and guidance, the margin performance stands out relative to its estimates which had underestimated leverage in the model and G&A efficiency initiatives, Goldman added.