UPDATE: Citigroup Raises PT on Covidien to $64
According to a research report this morning, Citigroup raises the PT on Covidien (NYSE: COV) from $60 to $64 following positive growth. Citigroup continued, “Despite F2Q representing the second straight quarter that Covidien delivered above the initial +3-5% sales guidance for F2012, the full year guidance was not changed. Covidien also kept its EBIT margin guidance of 22-23% unchanged. Part of the reason for the more conservative outlook for 2H is the recent set of deals –SuperDimension, Newport Medical, and Oridion – which will combine for $0.03-0.05 in dilution in F2012.”
Covidien closed Friday at 55.34 as Citigroup maintains its Buy rating.
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Tags: Citigroup
Posted in: Analyst Color, Reiteration, Analyst Ratings
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