UPDATE: J.P. Morgan Color On STJ

J.P. Morgan, which raised its PT on shares of St. Jude Medical Inc. STJ, is providing some color on the stock. “It's been nine years since a significant new product was launched in ICDs, one big enough to move more than a point or two of share,” J.P. Morgan writes. “We've seen a number of small ones along the way, but since the initial launch of Guidant and Medtronic's CRT-D systems in May and June of 2002, we haven't seen a product move meaningful share. “Recalls have moved share, that's for certain; and over the last seven years St. Jude has more than doubled its share of the market. But the technology curve has been relatively flat, and the differences in competitive offerings have been limited. That's about to change.” St. Jude Medical closed Monday at $48.44.