Deutsche Bank Upgrades Stryker (SYK) to Buy; Quality Well-Diversified Company With a Sound Strategy

Deutsche Bank upgraded Stryker (NYSE: SYK) from Hold to Buy, price target raised from $61 to $64.

Deutsche analyst says, "Stryker often gets classified as an "ortho" or "capex" company, descriptions that do not give credit to its diversification. While the end markets remain challenging, we believe Stryker has the right strategy for this environment to deliver above average growth. Stryker has diversified away from the mature hip/knee market acquiring faster growing and higher margin neurovascular technologies, focused on sensible tuck-in deals, and initiated its (cost) "Operations Journey". We believe the stock's pull-back created a valuation opportunity and we are upgrading to a Buy."

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

Shares of Stryker closed at $47.27 yesterday.

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