Update: Citi Raising Price Target On Stryker

Citi Investment Research is raising its price target on shares of Stryker SYK to $68 from $64, and it has a Hold rating on shares. In a note to investors, Citi writes, "SYK's annual investor meeting didn't offer much new, but didn't need to as it likely reinforced views that the company can weather challenging orthopedic markets and may have some areas of potential upside. This is mostly reflected in the valuation although we are raising our target price to $68." Shares of SYK gained 20 cents yesterday to close at $64.00, a gain of 0.3%.