Barclays Incrementally Positive on Covidien Ltd (COV) After Meeting with Mgmt

Barclays maintains an 'Overweight' on Covidien Ltd (NYSE: COV) price target of $57.00.

Analyst, Adam Feinstein, made comments after meeting with Covidien's CEO and other members of executive management. Feinstein feels that the CEO transition in the company has been smooth and the incoming CEO, Joe Almeida, has taken the reigns well.

Feinstein, said, "We came away from the meetings incrementally positive that COV will be able sustain top line growth in the mid-single digits over the long term, helped by acquisitions, operational strength, continued penetration of its therapies, and a growing presence in emerging markets."

For an analyst ratings summary and ratings history on Covidien Ltd click here. For more ratings news on Covidien Ltd click here.

Shares of Covidien Ltd closed at $53.93 yesterday.

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