CICC Raises Price Target on Mindray Medical Following Management Meeting

China International Capital raised its price target on Mindray Medical (NYSE: MR) from $37.00 to $44.00 and maintained a Buy rating on the stock.

In the report, China International Capital stated, "Management shed more light on the 2013 outlook, where China and Emerging markets will remain the key growth drivers, while developed markets hold strategic value despite their minor contribution to near term profitability."

Mindray Medical closed Wednesday at $37.69.

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