Canaccord Genuity Reiterates a 'Buy' on St. Jude Medical (STJ); Recommend Adding to Positions

Canaccord Genuity reiterates a 'Buy' on St. Jude Medical (NYSE: STJ) price target of $50.00 (from $45.00).

Analyst, Jason R. Mills, said, "Just prior to the market close on Friday, STJ announced it had finished its analysis of the Durata lead externalization that was recorded in FDA’s MAUDE database a few weeks ago and caused serious consternation among investors. After assessing the lead in question, STJ concluded the failure was related to external abrasion resulting from contact with another lead or a calcified heart valve – both of which occur with all companies’ lead systems from time to time."

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 $37.90 yesterday.

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