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Fly News Breaks for January 6, 2017
SYK
Jan 6, 2017 | 07:30 EDT
Needham analyst Mike Matson downgraded Stryker to Underperform to reflect Mako and capex concerns. The analyst said the Mako total knee is unlikely to be a significant catalyst for Stryker and worries it could disappoint investors. Further, Matson said Styker's exposure to capital equipment is grater than many of its large-cap peers and creates increased risk from an ACA repeal-induced capital spending slowdown. Stryker is also less likely to benefit from reduced corporate tax rates relative to some of its peers, Matson writes.
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