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Stock Market & Financial Investment News

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April 11, 2014
11:42 EDTCOVCovidien liability from recall appears limited, says Brean Capital
Brean Capital believes Covidien's liability from its voluntary recall of certain embolization and retrieval devices appears limited, noting that there were no deaths associated with the issue and only products distributed from May 2013 are affected. The firm estimates the impact for the recall is about $5M-$10M, which translates to about a 1c-2c impact to EPS, which should be offset by other parts of the business. Brean maintains its Buy rating and $75 price target on Covidien.
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