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UPDATE: Argus Research Upgrades Stryker

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In their Wednesday morning summary, Argus Research analysts upgraded shares of Stryker (NYSE: SYK) from Hold to Buy and set a price target of $102.

Looking at 2014, the Argus team is forecasting a stronger second half for Stryker. The team is basing this on the company's "solid" growth in businesses outside orthopedics, a better position to boost sales of knee implants following the MAKO acquisition and a higher amount of elective surgeries.

The team also noted that the pending merger of Zimmer and Biomet may create a possibility for Stryker to gain market share due potential disruptions of the competitor's sales.

Based on the items above, the analysts at Argus have raised their EPS estimates from $4.78 to $4.81 and $5.06 to $5.20 for 2014 and 2015, respectively.

Latest Ratings for SYK

DateFirmActionFromTo
Nov 2018CitigroupMaintainsNeutralNeutral
Oct 2018BarclaysInitiates Coverage OnOverweight
Aug 2018BTIG ResearchInitiates Coverage OnBuy

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Posted-In: Argus ResearchAnalyst Color News Upgrades Price Target Analyst Ratings

 

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