Needham raised the firm’s price target on Stryker (SYK) to $442 from $409 and keeps a Buy rating on the shares. The firm is also adding the stock to its Conviction List. The company has a number of new products that should drive strong growth during 2025, including its Pangea trauma plating system, LIFEPAK 35 monitor/defibrillator, and Mako Shoulder and Spine applications, the analyst tells investors in a research note. Stryker also expects significant margin improvement of about 100 bps in 2025 and anticipates an increase its M&A activity, with deals that should serve as positive catalysts, the firm added.
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Read More on SYK:
- Stryker price target raised to $425 from $400 at RBC Capital
- Stryker price target raised to $450 from $411 at Citi
- Largest borrow rate increases among liquid names
- Stryker assumed at Overweight from Equal Weight at Morgan Stanley
- Stryker price target raised to $410 from $380 at Argus
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