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UPDATE: Stifel Nicolaus Initiates Stryker Corporation at Buy on Valuation

Related SYK
Morgan Stanley Remains Positive On Stryker Corporation
Morgan Stanley Has Critical Questions For Stryker Corporation Going Into Investor Day

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

DateFirmActionFromTo
Aug 2014NeedhamUpgradesBuy
Jul 2014CitigroupMaintainsNeutral
Jul 2014BarclaysMaintainsEqual-weight

View More Analyst Ratings for SYK
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings

 

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