UPDATE: Stifel Nicolaus Initiates Stryker Corporation at Buy on Valuation
Stifel Nicolaus initiated coverage on Stryker Corporation (NYSE: SYK) with a Buy rating and a $65 price target.
Stifel Nicolaus noted, "The recent appointment of CEO, Kevin Lobo, formerly head of Stryker's Reconstructive Products Division, ends an extended period of leadership uncertainty. … On an absolute basis, SYK trades at 12.2x and 6.5x our 2013 EPS and EBITDA (EV/EBITDA) estimates, respectively. These current multiples represent discounts to the average SYK P/E and EV/EBITDA multiples, since 2009, of 13.8x and 8.0x, respectively."
Stryker Corporation closed at $52.10 on Monday.
Latest Ratings for SYK
|Dec 2014||Leerink Swann||Maintains||Outperform|
|Dec 2014||Goldman Sachs||Upgrades||Buy||Conviction Buy|
|Nov 2014||JP Morgan||Maintains||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.