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Fly News Breaks for February 14, 2017
SYK
Feb 14, 2017 | 08:01 EDT
Stifel analyst Rick Wise says that Stifel's survey of 82 U.S. hip and knee surgeons regarding Styker's MAKO device was "highly encouraging. The survey "reflected clearly significant surgeon interest in MAKO and the potential for material U.S. knee market share gains " for Styker," he added. The analyst raised his 2019-2020 U.S. knee growth rate projections for Stryker by about two percentage points per year and adds that the results show that the company's "momentum in MAKO is increasing." He believes that such momentum is an "essential" factor in the stock's ability to maintain its premium valuation and in the company's ability to maintain its "EPS trajectory." Wise keeps a $135 price target and a Buy rating on the shares.
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