Stryker price target raised to $330 from $280 at Stifel

Stifel analyst Rick Wise raised the firm’s price target on Stryker to $330 from $280 and keeps a Buy rating on the shares. Despite the company’s "significant top-line outperformance," Stryker raised its 2023 sales guidance by less-than-the-beat, the analyst tells investors. Still, Stifel is encouraged by Stryker’s full-year outlook, noting the following performance drivers: improving macro conditions in Q1, ASC penetration steadily-expanding, the company’s product "supercycle" remains on track, and management anticipates price will be roughly-neutral year over year.