BofA upgraded Stryker to Buy from Neutral with a price target of $315, up from $310. Stryker’s new product supercycle could add 100-200bps to revenue growth, and the company has capital visibility well into 2024, the analyst tells investors in a research note. Stryker’s message on margin upside has turned more bullish, and BofA sees the negative sentiment on medtech as an opportunity now ahead of the 2024 upside.
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