J.P. Morgan Reiterates St. Jude Medical Overweight Rating (STJ)

J.P. Morgan reiterated its St. Jude Medical STJ Overweight rating in a research report published today. J.P. Morgan maintained its St. Jude Medical price target of $52, set in December 2010. In the report, J.P. Morgan states, "St. Jude reported its full 4Q results Wednesday before the open, having pre-announced top-line out-performance two weeks earlier. The quarter's upside on both the top- and bottom-lines caps off a year in which revenues grew 9.6% organic, EPS grew 23.9%, and Street consensus increased by 11.4% over the course of the year. Yet, despite a notably strong finish to 2010, the Street continues to find new reasons to worry about St. Jude with concerns over the health of the CRM market and competitive product launches weighing on the stock." Shares of St. Jude Medical were at $41.99 at the time of posting in after-hours trading, down 0.38% from Wednesday's market close.