Stryker (SYK) Commentary At AAOI Inspires Confidence in Guidance - Cowen

Cowen analyst Joshua Jennings reiterated an Outperform rating and $215.00 price target on Stryker (NYSE: SYK) after attending the AAOS meeting. The analyst noted management remained confident that competitive entrants will not impact the win ratio, that the U.S. hospital market is only ~10% penetrated and the 2019 order book remains strong.

The analyst stated "We expect SYK to deliver top-tier top- and bottom-line growth vs its med tech peers, thus justifying a premium valuation multiple. Importantly, we think SYK is well positioned in OUS and emerging markets, with expansion in China leading the way. We also see double-digit growth potential for SYK's trauma and extremities lines, instruments and neurovascular devices, among other products".

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 $193.35 yesterday.

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