Market Overview

UPDATE: Credit Suisse Downgrades Stryker Corporation to Neutral on Valuation

Related SYK
Stryker's Q1 Earnings and Revs Lag Ests - Analyst Blog
Earnings Scheduled For April 23, 2014

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.

Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (SYK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free