Canaccord Genuity Remains Bullish on Stryker (SYK) Following Relatively In-Line 4Q
Canaccord Genuity reiterated a Buy rating and $112.00 price target on Stryker (NYSE: SYK) following the company's 4Q earnings report. SYK's results came in line on revenues and beat slightly on EPS. Stryker continues to perform in key markets with strong US sales growth against tough foreign currency and lagging emerging markets. Furthermore, Canaccord notes the potential for operating leverage beyond guidance, which could fuel EPS upside.
Analyst William Plovanic commented, "We maintain our BUY rating following Q4/15 results which came in line on revenues and beat slightly on EPS. Stryker reported solid revenue growth again in US orthopedics with knees and hips each growing 9% and 6% respectively offset by weaker emerging markets and Fx impact (-3.2%)."
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Shares of Stryker closed at $96.02 yesterday.