Stryker price target raised to $280 from $250 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Stryker to $280 from $250 and keeps an Overweight rating on the shares after its Q4 earnings beat. The upside in the quarter was largely driven by the company’s MedSurg & Neuro franchise, which benefited from a work-down of backlog but also has strong momentum, the analyst tells investors in a research note. The company should have a powerful "super-cycle" of new products this year, and its international business is also "humming along", Piper Sandler adds.