UPDATE: Stifel Nicolaus Initiates St. Jude Medical at Hold on Near-Term Headwinds
Stifel Nicolaus initiated coverage on St. Jude Medical (NYSE: STJ) with a Hold rating.
Stifel Nicolaus said, "We are initiating coverage of St. Jude Medical Inc. (STJ) with a Hold rating on the shares. With top-line growth slowing and lingering uncertainties about the impact of the Riata/Durata ICD lead controversy resolution, a possible FDA Warning Letter, and no visible significant near-term positive catalyst, we are inclined to remain on the sidelines, pending greater visibility on these issues."
St. Jude Medical closed at $35.03 on Monday.
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