Soleil Raises Estimates on Stryker (SYK), Raises Price Target

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Soleil Securities is reiterating their Buy rating on Stryker (NYSE: SYK) as the company adjusted their FY10 and FY11 EPS guidance to $3.31-$3.33 and $3.88-$3.96. As a result the firm is raising their EPS estimates for FY10 and FY 11 to $3.33 and $3.92 from $3.30 and $3.77. Their new estimates raise their three-to-five year EPS growth rate to 15% from 13% and they also are raising their price target to $84 from $71. The firm reports that during 4Q10, Stryker repurchased 6.1 million shares for $314 million or $51.50/share

For more ratings news on Stryker click here and for the rating history of Stryker click here.

Shares of Stryker closed at $54.70 yesterday, with a 52 week range of $42.74-$59.72.

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