Jefferies Still Sees Covidien (COV)/Medtronic (MDT) Deal Getting Done

Jefferies analyst Raj Denhoy maintained a Buy rating and $75 price target on Medtronic, Inc. (NYSE: MDT) saying they still believe the Covidien plc (NYSE: COV) deal gets done.

"The news on ABBV’s reconsideration of the Shire deal caused spreads in MDT/COV to widen significantly," Denhoy notes. "Despite increased skepticism, the strategic underpinnings of the deal are so compelling that we can’t see how Medtronic walks."

For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $62.25 yesterday.

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