Wells Fargo Starts Stryker (SYK) at Outperform, Sets $62-$63 Valuation Range
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Price: $69.24 +0.74%
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade SYK Now!
Wells Fargo initiates coverage on shares of Stryker (NYSE: SYK) with an Outperform rating and a valuation range of $62-$63.
The firm believes shares will outperform given the relatively low risk to its guidance of double-digit EPS growth in 2012 and 2013, improving orthopedic procedure volume in the U.S., solid growth in its MedSurg business, potential entry into robotics in 2013 and given its attractive valuation relative to growth.
An analyst at Wells Fargo comments, "We expect SYK to deliver double-digit EPS growth in 2012 and 2013, due to solid growth in its MedSurg division, recent deal accretion and restructuring initiatives. In addition, we think an orthopedic market acceleration represents potential upside."
For FY12 and FY13, the firm set its EPS estimates at $4.11 and $4.50.
For an analyst ratings summary and ratings history on Stryker click here. For more ratings news on Stryker click here.
Shares of Stryker closed at $54.56 yesterday, with a 52 week range of $43.73-$65.21.
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The firm believes shares will outperform given the relatively low risk to its guidance of double-digit EPS growth in 2012 and 2013, improving orthopedic procedure volume in the U.S., solid growth in its MedSurg business, potential entry into robotics in 2013 and given its attractive valuation relative to growth.
An analyst at Wells Fargo comments, "We expect SYK to deliver double-digit EPS growth in 2012 and 2013, due to solid growth in its MedSurg division, recent deal accretion and restructuring initiatives. In addition, we think an orthopedic market acceleration represents potential upside."
For FY12 and FY13, the firm set its EPS estimates at $4.11 and $4.50.
For an analyst ratings summary and ratings history on Stryker click here. For more ratings news on Stryker click here.
Shares of Stryker closed at $54.56 yesterday, with a 52 week range of $43.73-$65.21.
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