Deutsche Bank Cuts Price Target In MedTech

Deutsche Bank lowered its price targets on a number of Medical Supplies & Devices today.

The firm comments, "The MedTech sector has been under pressure recently on concerns regarding the earnings outlook, particularly given FX rates. We believe sector fundamental are likely to remain challenging and Street EPS ests for some may be lowered to reflect it and FX movements."

In the group, Deutsche Bank highlighted its comfortability with Buy-rated Stryker (NYSE: SYK) which recently reiterated its guidance.

PRICE TARGET CHANGES:
Baxter International Inc. (NYSE: BAX) (Buy) from $68 to $66
Becton, Dickinson and Company (NYSE: BDX) (Hold) from $88 to $85
Boston Scientific Corporation (NYSE: BSX) (Hold) FROM $8.20 to $7.20
Covidien plc (NYSE: COV) (Buy) from $61 to $59
St. Jude Medical Inc. (NYSE: STJ) (Buy) from $57 to $51
Johnson & Johnson (NYSE: JNJ) (Hold) from $73 to $70

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