Stryker (SYK) PT Lowered to $355 at TD Cowen

TD Cowen analyst Matthew Blackman lowered the price target on Stryker (NYSE: SYK) to $355.00 (from $387.00) while maintaining a Hold rating.

The analyst commented, "1Q, as expected, was impacted by the cybersecurity incident. Most important, and as alluded to in the recent 8K, the FY outlook was maintained and that should be received well. Also, SYK's constructive tone on the underlying business & MedTech markets broadly is encouraging. If there are any concerns, it could be the recovery cadence and that DD top-line growth is likely no longer on the table."

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