Stifel Nicolaus Maintains Hold on St. Jude Medical

Stifel Nicolaus is out with its report today on St. Jude Medical STJ, maintaining Hold. In its report, Stifel Nicolaus writes, "No change to our Hold rating. Fair value goes to $38. Facing the soft ICD end-market and a lower-than-expected contribution from FX, we believe the potential for significant earnings outperformance could be limited in the near-term, and management's 2011 guidance could be at-risk." At the time of posting, shares of STJ were trading at $34.23, up 0.68% from Monday's close.