Barclays starts medical-device coverage with Stryker and Abbott rated Overweight
Barclays analyst Christopher Pasquale began coverage of 26 medical-device makers, assigning Overweight ratings to Stryker, Abbott Laboratories and several peers. Barclays named Stryker and Edwards Lifesciences its leading large-cap ideas, with price targets of $375 and $110. The firm said depressed sector valuations and a possible improvement in large-cap revenue trends next year could support sentiment.
Why it matters
Barclays says the sector's valuation weakness has created selective opportunities and that firmer large-cap revenue trends next year could lift sentiment and valuation multiples. The initiation adds a positive analyst catalyst for the companies receiving Overweight ratings.
Key facts
- 1Barclays analyst Christopher Pasquale initiated coverage of 26 medical-device companies. tradingview.com
- 2Barclays gave Stryker and Abbott Laboratories Overweight ratings. seekingalpha.com
- 3Barclays identified Stryker and Edwards Lifesciences as its top large-cap ideas, with price targets of $375 and $110, respectively. tradingview.com
- 4Abbott Laboratories, GE Healthcare and Intuitive Surgical were also rated Overweight, with price targets of $120, $85 and $485, respectively. tradingview.com
- 5Barclays expects a potential stabilization in large-cap medical-device revenue next year to improve investor sentiment. tradingview.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.