Market Overview

UPDATE: Credit Suisse Downgrades Stryker Corporation to Neutral on Valuation

Share:
Related SYK
Stryker Corporation CEO Weighs In On Q2 Earnings And Muka Metal Acquisition
Amazon, Starbucks, Pandora, Juniper Lead Thursday's After-Hours Movers
Zacks Investment Ideas feature highlights: Stryker, Campbell Soup and First American Financial - Press Releases (Zacks)

Credit Suisse downgraded Stryker Corporation (NYSE: SYK) from Outperform to Neutral.

Credit Suisse said, "We're downgrading SYK to Neutral from Outperform following the stock's recent strong performance, which leaves < 10% upside relative to our unchanged $67 price target. We continue to like SYK's diversified business model, strong FCF generation ability & solid long-term sales growth profile, and do not see SYK shares as particularly expensive (currently trades at 13.3X our 2014 estimate, slightly below the last 5-year average of 13.9X); however, we believe further mid-term valuation / EPS upside is likely to require developments not incorporated in our current forecasts such as above trend-line WW hip/knee market performance, rapid and dramatic improvement in OUS hip/knee execution, &/or added M&A, perhaps in the emerging markets."

Stryker Corporation closed at $63.06 on Wednesday.

Latest Ratings for SYK

DateFirmActionFromTo
Jul 2015Canaccord GenuityMaintainsBuy
Apr 2015Deutsche BankMaintainsBuy
Apr 2015BarclaysDowngradesEqual-weightUnderweight

View More Analyst Ratings for SYK
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

 

Related Articles (SYK)

Get Benzinga's Newsletters