Citi Maintains Buy on Covidien

Citi is out with its report today on Covidien COV, maintaining Buy. In its report, Citi writes, "We rate shares of Covidien (COV) Buy/Medium Risk (1M). Further visibility into improving leverage along with continued execution among broadly discussed strategic activities should enhance the current valuation compared to the company's med tech peer group." Citi maintains a $64 PT on COV. Shares of COV closed Monday at $52.00.