Canaccord raised the firm’s price target on Stryker (SYK) to $435 from $420 and keeps a Buy rating on the shares. The firm said they delivered an impressive Q4, beating on the top and bottom lines and continuing to note healthy capital demand and procedure volumes. They said the company is firing on all cylinders as it continues to innovate, having launched Mako spine and now shoulder applications on time and continuing to benefit from its “super cycle” of new products, with its Pangea plating system ongoing launch and Lifepak35 defibrillator seeing a strong order book as sales ramp.
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