St. Jude Medical warning letter not clearing event, says Citigroup Citigroup believes the next FDA action regarding St. Jude Medical's Sylmar is likely to be a threat of injunction that normally leads to a consent decree. Further, Citi believes the FDA will ultimately have to make a determination on the safety of Durata, with the firm still believing a recall is likely. Citi says the FDA's Sylmar Warning Letter is not a clearing event, but the next step in a process that looks ominous for St. Jude. The firm keeps a Sell rating on the stock with a $32 price target.
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