Jefferies Maintains a 'Hold' on St. Jude Medical (STJ); 2012 A Bet On CRM

Jefferies maintains a 'Hold' on St. Jude Medical (NYSE: STJ) price target raised from $38 to $41.

Analyst, Raj Denhoy, said, "St. Jude released 2012 guidance indicating growth of 4-7% as 2012 looks to be a transitional year as most growth drivers are pushed to 2013. STJ remains leveraged to the CRM market and given the market contraction, pricing pressure and growing Riata concerns dogging the company, the ability to gain meaningful market share will be the story in 2012." (Jefferies lowers FY12 revs from $5.844 bln to $5.703 bln and FY13 from $6.187 bln to $6.016 bln)

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 $40.30 yesterday.

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