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UPDATE: Credit Suisse Downgrades Stryker Corporation to Neutral on Valuation

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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
Jun 2016Guggenheim SecuritiesInitiates Coverage onBuy
Apr 2016Argus ResearchMaintainsBuy
Apr 2016Sterne Agee CRTUpgradesNeutralBuy

View More Analyst Ratings for SYK
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Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

 

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