Canaccord Genuity Maintains Buy On Stryker Shares, $84 PT
In a research report issued today, Canaccord Genuity analyst William Plovanic maintained a Buy rating on Stryker Corp (NYSE:SYK) with a price target of $84.00.
Plovanic said, “We maintain our BUY rating following Q3/14 results that outperformed expectations on both the top and bottom lines. Stryker continues to grow above-market rates in the US, taking share in the hip and extremities markets, and maintaining its position in knees (despite recent competitive launches). International began to show improvements with the annualization of operating changes and the first quarter of the new global operating structure. We maintain our BUY on Stryker given the stable to improving macro for ortho recon procedures. That said, we expect management to continue to be acquisitive through 2014, thus reducing visibility in the P&L, which we believe could continue to limit the stock performance in the near term.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst William Plovanic has a total average return of 16.6% and a 60.9% success rate. Plovanic has a 7.3% average return when recommending SYK, and is ranked #51 out of 3336 analysts.