Canaccord Genuity Maintains a 'Buy' on St. Jude Medical (STJ); Positive After Analyst Day
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Price: $80.82 --0%
Rating Summary:
3 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on St. Jude Medical (NYSE: STJ) price target of $50.00.
Analyst, Jason R. Mills, said, "Management provided more details about what we believe is one of the most robust new product pipelines in large-cap med-tech (TAVI, renal denervation, PFO closure, LAA exclusion, DBS, MediGuide for AF, etc.). STJ reiterated its belief that the CRM market is stabilizing and provided more evidence supporting its assertion that its CRM franchise should gain share. Management’s 2012 EPS guidance ($3.43-3.48) seems conservative to us in light of some signs of stabilization in the global CRM market, not to mention a strong pipeline of exciting new products (some of the benefit of which is not in our model). All in, we see upside to 2012 EPS guidance. Furthermore, we think the company can modestly accelerate both top- and bottom-line growth rates in 2013."
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 $42.51 yesterday.
Analyst, Jason R. Mills, said, "Management provided more details about what we believe is one of the most robust new product pipelines in large-cap med-tech (TAVI, renal denervation, PFO closure, LAA exclusion, DBS, MediGuide for AF, etc.). STJ reiterated its belief that the CRM market is stabilizing and provided more evidence supporting its assertion that its CRM franchise should gain share. Management’s 2012 EPS guidance ($3.43-3.48) seems conservative to us in light of some signs of stabilization in the global CRM market, not to mention a strong pipeline of exciting new products (some of the benefit of which is not in our model). All in, we see upside to 2012 EPS guidance. Furthermore, we think the company can modestly accelerate both top- and bottom-line growth rates in 2013."
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 $42.51 yesterday.
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