Wedbush Downgrades St. Jude Medical (STJ) to Neutral

Wedbush downgraded St. Jude Medical (NYSE: STJ) from Outperform to Neutral with a price target of $84.00 (from $70.00).

Analyst Tao Levy commented, "With the acquisition of St. Jude Medical by Abbott Laboratories (ABT, not rated) expected to be completed by the end of 2016, the unlikelihood of a competing bid, and no major concerns on the regulatory front (aside from some relatively minor divestitures that may be necessary), we are downgrading shares of STJ to NEUTRAL from OUTPERFORM."

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 $80.73 yesterday.

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