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According to Bank of America, St Jude Medical
STJ Buy rating is maintained.
Bank of America said that STJ announced that its long running 980 patient PFO trial in cryptogenic stroke had reached a stopping point, which strongly suggests it will know the results of this large scale trial within months. “With STJ trading at a discount to MDT for the first time in almost a decade and with STJ at the absolute bottom end of its relative multiple range, we believe the market currently assigns zero value to STJ for PFO.”
St Jude Medical closed yesterday at $37.62.
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