Sundry Photography/iStock Editorial via Getty Images Needham has upgraded Stryker ( NYSE: SYK ) to buy, citing the potential for double-digit organic revenue growth. The investment bank said product launches and a capital equipment backlog should allow the medical device company to top consensus revenue estimates and “overcome any potential recon market slowdown.” It added that it also sees deals serving as positive catalysts, given that Stryker expects to increase its M&A activity.
Needham set its price target for the stock at $392. More on Stryker Stryker Corporation (SYK) Q1 2024 Earnings Call Transcript Stryker: A Great Company At An Expensive Price Stryker Non-GAAP EPS of $2.50 beats by $0.
14, revenue of $5.2B beats by $90M Stryker Q1 2024 Earnings Preview Seeking Alpha’s Quant Rating on Stryker.