TECH - Stryker Stock Is Attractive Considering Its Double-Digit Organic Revenue Growth - Analyst Upgrades Stock | Benzinga
Needham analyst Mike Matson upgraded Stryker Corp (NYSE:SYK) from Hold to Buy and a $392 price target.
Matson expects new product launches combined with SYK’s capital equipment backlog to allow it to deliver upside to consensus revenue estimates and overcome any potential recon market slowdown.
SYK expects significant margin improvement in 2024-2025. The analyst expects revenue upside to translate into EPS upside.
SYK also expects to increase its M&A activity, and Matson expects deals to serve as positive catalysts.
Considering its double-digit organic revenue growth potential, Matson noted that SYK shares are attractive.
The analyst expects new product launches and SYK’s capital equipment backlog to support upside to consensus and overcome any potential recon slowdown.
Pangea is a significant product launch for SYK’s Trauma & Extremities ...