Morgan Joseph Initiates Coverage on St. Jude Medical (STJ) with a Buy; High-Quality Name in the Group
More News related to STJ
- Goldman Sachs Removed Genzyme (GENZ) from Conviction Sell List, Adds St. Jude (STJ)
- St. Jude Medical (STJ) Receives European Approval for Smaller, Higher Power ICD and CRT-D Devices
- St. Jude Medical Announces European Approval of Smaller, Higher Power ICD and CRT-D Devices with New Heart Failure Monitors
- Celebrating 30 Years of Innovation in Neuromodulation, St. Jude Medical Unveils Latest Product at American Academy of Pain Medicine Annual Meeting
- St. Jude Medical Announces IRASE AF Clinical Trial to Evaluate Cardiac Ablation Catheter System for Treatment of Atrial Fibrillation
More News related to New Coverage
- Feltl & Co. Initiates Coverage on ActivIdentity (ACTI) with a Buy
- Oscar Gruss Initiates Coverage Airgas (ARG) with a Buy
- Sidoti & Co Initiates Coverage on Solutia (SOA) with a Buy
- RBC Capital Initiates Coverage on Questar (STR) with a Sector Perform
- Needham & Company Starts Time Warner (TWX) at Hold
Morgan Joseph initiates coverage on St. Jude Medical Inc. (NYSE: STJ) with a Buy. Price target $42.
Morgan analyst says, "We are initiating coverage with a Buy rating and a $42 price target, which is 16x our 2010 EPS estimate of $2.68, at the upper end of the current comp group range of 13x-16x. St. Jude is a high-quality name in the group and deserves a premium valuation, in our opinion, because we believe it has better than average long-term growth prospects. Risks to attaining our price target include the timing and success of clinical trials, new product launch timing, availability of reimbursement, litigation, and healthcare reform...St. Jude Medical aims to deliver 15% EPS growth with a combination of new products, operating expense leverage, and share buybacks. Key factors in the diversified growth strategy are market share gains in cardiac rhythm management (CRM), continued growth in AF and neuromodulation, and acquired growth from Radi's PressureWire."
To see all the upgrades/downgrades on shares of STJ, visit our Analyst Ratings page.
St. Jude Medical, Inc. (St. Jude)develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and implantable neurostimulation devices for the management of chronic pain.
Related Categories
New CoverageStocks Mentioned
+0.34Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
