Stryker price target raised to $360 from $345 at RBC Capital

RBC Capital raised the firm’s price target on Stryker to $360 from $345 and keeps an Outperform rating on the shares. The company reported “solid” Q4 results, with a 4% sales and 6% earnings upside amid strength in both MedSurg and Orthopedic, the analyst tells investors in a research note. Stryker’s solid FY23 exit, business momentum, and initial FY24 guide position the company for another year of beat and raise performance while it picks up the cadence of tuck-in M&A, RBC added.