St. Jude Medical price target raised to $79 from $63 at Piper Jaffray Piper Jaffray raised its price target for St. Jude Medical shares to $79 citing improving global cardiology markets and expectations for accelerating top-line growth over the next two-to-three years. Piper reiterates an Overweight rating on the stock.
St. Jude Medical downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded St. Jude Medical (STJ) to Market Perform saying competitive pressures will drive 2015 market share losses in the company's cardiac rhythm management business, which represents 50% of total sales. Wells believes the launch of CardioMEMS will not be strong enough to offset the headwinds in CRM unit. The firm thinks Boston Scientific's (BSX) earlier than expected approval for its next generation subcutaneous implantable cardioverter-defibrillator called Emblem will drive share gains against St. Jude and Medtronic (MDT) in the single chamber ICD market. Wells cut its price target range for St. Jude shares to $69-$70 from $73-$74. The medical technology company closed yesterday down $2.01 to $65.45.