Stryker price target raised to $300 from $270 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Stryker to $300 from $270 but keeps a Hold rating on the shares. The company’s Q3 organic revenue upside was “solid”, even though its earnings “barely beat” due to softer than expected operating margins, the analyst tells investors in a research note. Stryker’s top-line still stands out as one of the best in diversified MedTech, but the stock trades at an “already sizeable” valuation premium vs. large-cap MedTech, the firm added.