UPDATE: Citigroup Raises PT to $50 on Medtronic on Durata Removal Impact - Medtronic (NYSE:MDT)

27% profit every 20 days?

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Citigroup reiterated its Buy rating on Medtronic (NYSE: MDT) and increased its price target from $47 to $50. Citigroup said, "We estimate that MDT would garner a 29% share of STJ's CRM sales on an annual basis is Durata is withdrawn from the market, or $238MM. Assuming minimal incremental expenses, we believe these sales would generate a nearly 70% incremental margin or $0.13 in EPS. We have MDT garnering a lower share benefit than BSX on the assumption that customers would be more inclined to reduce their risk of having too much share controlled by one vendor."Medtronic closed at $43.27 on Friday.

27% profit every 20 days?

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