Needham analyst Mike Matson upgraded Stryker to Buy from Hold with a $392 price target. The analyst expects new product launches combined with Stryker’s capital equipment backlog to allow it to deliver upside to consensus revenue estimates and overcome any potential recon market slowdown. Stryker expects significant margin improvement in 2024 and 2025 and revenue upside should translate into earnings upside, the analyst tells investors in a research note. The firm also expects potential acquisitions to serve as positive catalysts for the stock. Needham finds the shares attractive considering its potential for double-digit organic revenue growth.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SYK:
- Stryker declares a $0.80 per share quarterly dividend
- Evercore ISI removes several healthcare names from ‘Tactical Outperform’ list
- Stryker price target raised to $376 from $372 at Barclays
- Stryker price target raised to $405 from $348 at Roth MKM
- Stryker price target raised to $369 from $366 at BTIG