Zacks Bull and Bear of the Day Highlights: Stryker, Centennial Communications, Mattson Technology and Canadian Pacific Railway.CHICAGO -- Zacks Equity Research highlights Stryker Corporation (NYSE NYSE See: New York Stock Exchange : SYK SYK So You Know SYK Saiyuki (anime) ) as the Bull of the Day and Centennial Communications Centennial Communications (NASDAQ: CYCL) and its subsidiaries (Centennial Wireless (U.S.), Centennial Dominicana and Centennial de Puerto Rico) provide wireless and broadband telecommunications services to wireless telephone subscribers in the United States, Puerto Rico, the (Nasdaq: CYCL) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Mattson Technology (Nasdaq: MTSN MTSN Seaman, Missile Technician Striker (Naval rating) ) and Canadian Pacific Railway Canadian Pacific Railway, transcontinental transportation system in Canada and extending into the United States, privately owned and operated. The construction of a railroad crossing the continent in Canadian territory was one of the conditions on which British Limited (NYSE: CP). Full analysis of all four stocks is available at http://at.zacks.com/?id=2676. Here is a synopsis of all four stocks: Bull of the Day: Our Bull of the Day recommendation is for Stryker Corporation (NYSE: SYK). Given the orthopedic group movement, we are adjusting our price target. In our opinion, the company's diversification strength will continue to generate solid results and is deserving of a premium valuation. At the current price, Stryker trades at roughly 23x our 2007 estimate of $2.42 or at a 1.1x 2007 P/E/G, a discount to the average of comparables 1.3x 2007 P/E/G. Our revised $62.00 target is based on a 1.3x P/E/G, in-line with the group average, or roughly 26x our $2.42 2007 earnings per share estimate. We reiterate our Buy recommendation. Bear of the Day: Our Bear of the Day recommendation is for Centennial Communications (Nasdaq: CYCL), a regional provider of wireless and integrated communications. Revenue performance has been impervious to better-than-expected subscriber retention and lower roaming traffic continues to weigh on weigh on Verb to be oppressive or burdensome to: the expectations that weigh so heavily on diplomats' wives Verb 1. overall top-line growth. We remain concerned with net debt in excess of $2.0 billion and limited cash liquidity, although the company was able to solidify further debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay during the quarter. Management also lowered its previous 2007 guidance, which was initially below consensus estimates and, therefore, we continue to await indications of improved operating profitability as changes in business strategy are taking longer to harness upside trends in earnings. Analyst Blog: Mattson Technology (Nasdaq: MTSN) is the largest OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and of dry strip and the second largest OEM of RTP (1) (Rapid Transport Protocol) The protocol used in IBM's High Performance Routing (HPR) system. (2) (Realtime Transport Protocol) An IP protocol that supports real time transmission of voice and video. semiconductor manufacturing equipment in the world. September quarter top-line outperformed consensus estimates, while bottom-line results were in-line with consensus estimates. The company has recently seen aggressive demand in an older product due to be phased out this year. This has hurt margins but the tide will turn in the next two quarters as the old product is phased out. We feel the weakness is an opportunity to acquire shares. Consequently, we are maintaining the Buy rating on shares of MTSN. We are maintaining our Hold on Canadian Pacific Railway Limited (NYSE: CP), but decreasing our target price to $54 from $58. CP is expected to report fourth quarter and full-year results on January 30, 2007. We are continuing our EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. estimates at $3.49 for 2006 and $3.84 for 2007. This is at the top of CP's revised 2006 guidance, which calls for revenues increasing 5-8% in 2006 and EPS rising to C$3.60-$3.95 (US$3.19-3.50). We expect results to benefit from solid growth in revenues and improved operating efficiencies. CP's 2006 third quarter EPS of $0.94 was up 26% from the comparable period in 2005. We believe CP's $0.64 indicated annual dividend, which provides a 1.2% yield, is safe. Get the full analysis of all four stocks by going to http://at.zacks.com/?id=2649. About the Bull and Bear of the Day Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months. About the Analyst Blog Updated throughout every trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. , the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets. About Zacks Equity Research Zacks Equity Research provides the best of quantitative and qualitative analysis Qualitative Analysis Securities analysis that uses subjective judgment based on nonquantifiable information, such as management expertise, industry cycles, strength of research and development, and labor relations. to help investors know what stocks to buy and which to sell for the long-term. Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons. Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. 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In terms of stocks, it is the reinvestment of dividends to purchase additional shares. of dividends and other earnings. Simulated results do not represent actual trading and may not reflect the impact that economic and market factors might have had on decision-making if an adviser were actually managing a client's money. (b)The S&P 500 Index ("S&P 500") is a well-known, unmanaged index of the prices of 500 large-company common stocks selected by Standard & Poor's. The S&P 500 includes the reinvestment of all dividends, no transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , and represents the gross returns before management fees. Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. 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