Stryker price target raised to $353 from $325 at BTIG

BTIG raised the firm’s price target on Stryker to $353 from $325 and keeps a Buy rating on the shares. The analyst cites the company’s “strong, diversified” Q4 performance generating 11.4% organic growth and above-consensus initial FY24 outlook for earnings and revenue. Stryker’s execution history, coupled with healthy end-markets and a steady new product cadence, gives the firm confidence in the company’s initial guidance moving higher through FY24, BTIG added.