Deutsche Bank Maintains Hold on Stryker (SYK)

Deutsche Bank is out with its report on Stryker SYK, maintaining Hold on SYK. In a note to clients, Deutsche Bank writes, "Over the past few years, Stryker has actively shifted its business mix away from orthopedics through acquisitions, most recently and notably Boston Scientific's neurovascular business. The diversified business model has proven to be increasingly valuable at the present time as the orthopedic market outlook continues to be sluggish. However, trading at 16x 2011 EPS estimates, a premium to its peers and the market, we believe the value is already reflected and shares offer little relative upside from current levels. We maintain our Hold rating." Deutsche Bank has a $59 PT on SYK, SYK closed yesterday at $58.37, up 1.34% from Monday's close.