Canaccord Genuity Maintains a 'Buy' on St. Jude Medical (STJ); Stock Up Ahead of Q1 Results
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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, "Notwithstanding what will probably be an in-line quarter for STJ at best, we still believe 2012 EPS guidance ($3.43-3.48) is conservative in light of 1) signs of stabilization in the global CRM market, and 2) the company’s robust new product pipelines (TAVI, renal denervation, PFO closure, LAA exclusion, DBS, MediGuide for AF, etc.). While most of the latter opportunities won’t hit the model until 2013, we still see the potential for upside to guidance via prudent OpEx cost control. While Riata headlines have the potential to impact results and the stock perhaps a bit further near term, we see STJ as best of breed in large-cap cardio med-tech, thus would accumulate shares at current levels."
Mills sees Q1 EPS of $0.82 on revs of $1.374 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 $38.25 yesterday.
Analyst, Jason R. Mills, said, "Notwithstanding what will probably be an in-line quarter for STJ at best, we still believe 2012 EPS guidance ($3.43-3.48) is conservative in light of 1) signs of stabilization in the global CRM market, and 2) the company’s robust new product pipelines (TAVI, renal denervation, PFO closure, LAA exclusion, DBS, MediGuide for AF, etc.). While most of the latter opportunities won’t hit the model until 2013, we still see the potential for upside to guidance via prudent OpEx cost control. While Riata headlines have the potential to impact results and the stock perhaps a bit further near term, we see STJ as best of breed in large-cap cardio med-tech, thus would accumulate shares at current levels."
Mills sees Q1 EPS of $0.82 on revs of $1.374 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 $38.25 yesterday.
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