Canaccord Genuity Maintains a 'Buy' on St. Jude Medical (STJ); Shares Already Reflect Moderate Degree of Pessimism
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Price: $47.00 +0.38%
Rating Summary:
10 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
10 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade STJ Now!
Canaccord Genuity maintains a 'Buy' on St. Jude Medical (NYSE: STJ) price target of $45.00.
Analyst, Jason R. Mills, said, "We recommend investors exercise patience near term and would consider adding to positions when the dust settles with respect to the alleged Durata externalization report, even if that means buying the stock a bit higher than current trading levels. We believe STJ’s current valuation already incorporates a moderate degree of pessimism regarding Durata specifically and STJ’s ICD growth outlook in general. Further, we remain optimistic about the company’s growth outlook coming from future product pipeline initiatives – TAVI, A-Fib, structural heart (e.g., LAA), and neuromodulation - which is the primary reason we maintain our rating."
For an analyst ratings summary and ratings history on St. Jude Medical click here. For more ratings news on St. Jude Medical click here.
Shares of St. Jude Medical closed at $36.24 yesterday, with a 52 week range of $32.13-$49.90.
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Analyst, Jason R. Mills, said, "We recommend investors exercise patience near term and would consider adding to positions when the dust settles with respect to the alleged Durata externalization report, even if that means buying the stock a bit higher than current trading levels. We believe STJ’s current valuation already incorporates a moderate degree of pessimism regarding Durata specifically and STJ’s ICD growth outlook in general. Further, we remain optimistic about the company’s growth outlook coming from future product pipeline initiatives – TAVI, A-Fib, structural heart (e.g., LAA), and neuromodulation - which is the primary reason we maintain our rating."
For an analyst ratings summary and ratings history on St. Jude Medical click here. For more ratings news on St. Jude Medical click here.
Shares of St. Jude Medical closed at $36.24 yesterday, with a 52 week range of $32.13-$49.90.
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