Stryker Stock Is Attractive Considering Its Double-Digit Organic Revenue Growth - Analyst Upgrades Stock
Portfolio Pulse from Anusuya Lahiri
Needham analyst Mike Matson upgraded Stryker Corp (NYSE:SYK) from Hold to Buy with a $392 price target, citing double-digit organic revenue growth, new product launches, and a strong capital equipment backlog. Matson expects these factors to drive revenue and EPS upside, despite potential recon market slowdowns. SYK's margin improvement and increased M&A activity are also seen as positive catalysts.
May 22, 2024 | 5:17 pm
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Needham analyst Mike Matson upgraded Stryker Corp (NYSE:SYK) from Hold to Buy with a $392 price target. Matson expects new product launches and a strong capital equipment backlog to drive revenue and EPS upside, despite potential recon market slowdowns. SYK's margin improvement and increased M&A activity are also seen as positive catalysts.
The upgrade from Hold to Buy with a significant price target increase indicates strong confidence in SYK's future performance. Factors such as new product launches, a strong capital equipment backlog, and increased M&A activity are expected to drive revenue and EPS growth, making the stock attractive to investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100