UPDATE: Citigroup Reiterates on Cyberonics Following F4Q13 EPS Report

In a report published Friday, Citigroup analyst Matthew J. Dodds reiterated a Buy rating on

, and raised the price target from $80.00 to $85.00. In the report, Citigroup noted, “F4Q13 EPS was $0.02 ahead of the Street as a slight miss in sales was aided by a slightly better GM and a lower tax rate. January proved to be a difficult month – largely due to weather – but this was largely offset by a large EMEA tender. While the US slowdown was a bit disappointing, it lines up with MDT's recent commentary and we sense CYBX is very confident in a strong F2014 finish.” Cyberonics closed on Thursday at $69.36.