Fly News Breaks for January 7, 2020
Jan 7, 2020 | 05:17 EDT
Piper Sandler analyst Matt O'Brien downgraded Stryker (SYK) to Neutral from Overweight with a price target of $210, down from $240. The company's proposed acquisition of Wright Medical (WMGI) is the largest deal in the sector in five years, O'Brien tells investors in a research note. The analyst, however, says he can't recall the last time a large deal worked in the space right out the gate. He expects the same for this deal.
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