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UPDATE: Credit Suisse Upgrades St. Jude Medical to Outperform on Durata Outlook

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Credit Suisse Upgrades St. Jude Medical To Outperform

Credit Suisse upgraded St. Jude Medical (NYSE: STJ) from Neutral to Outperform and raised the price target from $43.00 to $48.00.

Credit Suisse noted, "Since Riata (STJ's recalled defib lead) failure reports began to circulate widely in 8/10, concerns about Durata's reliability (STJ's current defib lead) have weighed on STJ's valuation. While Durata concerns are likely to persist near-term, we came away from STJ's investor day impressed by the company's confidence in Durata and its optimism about the May HRS conference where STJ expects to see multiple favorable Durata studies."

St. Jude Medical closed at $41.17 on Friday.

Latest Ratings for STJ

DateFirmActionFromTo
Apr 2015Credit SuisseUpgradesNeutralOutperform
Apr 2015BarclaysMaintainsOverweight
Apr 2015Deutsche BankMaintainsBuy

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Posted-In: Credit SuisseAnalyst Color Upgrades Analyst Ratings

 

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