Stryker (SYK) PT Raised to $135 at Piper Jaffray Amid Solid Q2

Piper Jaffray analyst Matt O'Brien reiterated an Overweight rating and boosted his price target on Stryker (NYSE: SYK) to $135.00 (from $120.00) following solid Q2 results. The firm remains positively inclined.

O'Brien commented, "This evening, SYK reported Q2 results that were above consensus estimates, but probably below heightened expectations. Guidance for Q3 came in a bit light which may raise questions over the revenue push out into Q4. That being said, the majority of the negative drags in Q2 are transitory in nature, in our opinion, some already resolved. With organic growth above 6%, solid momentum across the portfolio (especially in Neuro & MedSurg) with leverage opportunities in SG&A still available, we remain positively inclined on the stock and would use any sustained weakness as an opportunity to add to positions."

For an analyst ratings summary and ratings history on Stryker click here. For more ratings news on Stryker click here.

Shares of Stryker closed at $122.56 yesterday.

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