Goldman Sachs Upgrades St. Jude Medical (STJ) to Buy

May 14, 2012 6:58 AM EDT Send to a Friend
Get Alerts STJ Hot Sheet
Price: $67.07 --0%

Rating Summary:
    17 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 7 | New: 22
Trade STJ Now!
Join SI Premium – FREE
Goldman Sachs upgraded St. Jude Medical (NYSE: STJ) from Neutral to Buy and raised their price target from $45 to $50, suggesting 29% upside.

"Share gains in core markets and entrance into new therapeutic categories should support accelerating organic revenue growth through 2015," the analyst said.

Dissipating headwinds should turn the focus back on longer-term product cycle, the analyst said. They see improving top-line outlook yielding upward EPS forecast revisions and subsequent P/E multiple expansion.

Goldman raised FY12 EPS from $3.49 to $3.51, FY13 from $3.71 to $3.79 and FY14 from $4.10 to $4.20.

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 $38.88 yesterday.




You May Also Be Interested In


Related Categories

Analyst EPS Change, Analyst PT Change, Hot Upgrades, Upgrades

Related Entities

Goldman Sachs

Add Your Comment