Oppenheimer commented on Covidien COV in a report released today. In the report, Citigroup was positive in its assessment of the company.
Citigroup writes, "We remain under the impression that even with
easy US comparisons starting in 2Q, the med tech market will continue to struggle as
underlying trends in the US, EU, and Japan remain sluggish. We believe COV's
footprint – products with less elective surgery exposure and early emerging market
traction – offer better fundamental prospects than its peer group and favorable margin
mix."
Citigroup currently has a Buy/Medium Risk rating on Covidien and a price target of $67. Shares of Covidien closed at $54.22 on Friday.
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