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UPDATE: Stifel Nicolaus Initiates Stryker Corporation at Buy on Valuation

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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
Dec 2016UBSUpgradesNeutralBuy
Nov 2016BMO CapitalUpgradesUnderperformMarket Perform
Oct 2016SunTrust Robinson HumphreyInitiates Coverage OnBuy

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

 

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