Stryker May Do Bigger Buyback if Smith & Nephew Too Much: BofA
2015-01-05 13:09:02.668 GMT
By Allison Connolly
(Bloomberg) -- Stryker will either buy Smith & Nephew at a
“reasonable” price or announce bigger-than-normal buyback,
BofA analyst Bob Hopkins wrote in note.
* Says purchase of Smith & Nephew could send SYK shares on
path to $110-$115
* Sees limited risk, with downside in the $90 area; says SYK
unlikely to overpay for SNN and will use balance sheet to
protect 2015 EPS; also notes SYK’s L-T organic growth
outlook improving after MR CLEAN stroke study
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2015-01-05 13:09:02.668 GMT
By Allison Connolly
(Bloomberg) -- Stryker will either buy Smith & Nephew at a
“reasonable” price or announce bigger-than-normal buyback,
BofA analyst Bob Hopkins wrote in note.
* Says purchase of Smith & Nephew could send SYK shares on
path to $110-$115
* Sees limited risk, with downside in the $90 area; says SYK
unlikely to overpay for SNN and will use balance sheet to
protect 2015 EPS; also notes SYK’s L-T organic growth
outlook improving after MR CLEAN stroke study
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net