Morgan Keegan Maintains Market Perform Rating and $38 PT on Medtronic

A report from Morgan Keegan reiterates its Market Perform rating and $38 price target on Medtronic

. The report states, “Medtronic's Ablation Frontiers system for ablating persistent and long-standing persistent atrial fibrillation (

) will likely not be recommended for approval by the FDA Advisory Panel. We believe the chance could be as low as 30% that Medtronic… will be successful." MDT closed yesterday at $33.73.