Canaccord Reiterates Hold, $42 Target on St Jude Medical

Canaccord maintains its Hold rating and $42 target on St Jude Medical, Inc.
as Quadra gains FDA approval and Riata is updated in doctor letters. Canaccord says, “We continue to model '11 and '12 CRM sales growth of 1% and 2%, respectively, which would constrain overall top-line growth as CRM is >50% of sales. That said, STJ has a robust pipeline (e.g., CardioMems, TAVI); ergo successful, on-time launches could improve top-line growth relative to our current targets in out years.” STJ closed at $35.69 per share on Tuesday.
Market News and Data brought to you by Benzinga APIs
Posted In: Analyst ColorReiterationAnalyst RatingsCanaccordQuadra
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!