JP Morgan Maintains Overweight Rating on Covidien

A report from J.P. Morgan reiterates its Overweight rating on Covidien

. The report states, “Covidien reported fiscal 4Q results this morning, with sales of $3.078B (+15.3%, +3.0% organic by our math) coming in $44M above Street consensus and $36M above our forecast. Sales included a well-advertised extra selling week, which we estimate added around $195M (730bps) to revenues in the quarter.” COV closed yesterday at $47.31.