Combine a bull market with increasing optimism that major med-tech
markets are stabilizing, and it's not so hard to see why stocks like St. Jude Medical (NYSE:STJ)
have seen solid runs and enjoy pretty favorable valuations today. In
the case of St. Jude, while I have generally been on the side arguing
that the Street was not giving the company enough credit for its
long-term prospects, the move into the mid-$40s for the stock argues
that the Street has in fact come up to speed.
With that in mind, St. Jude is going to need to start outperforming to drive a significantly higher multiple and share price.
Please read more here:
http://www.massdevice.com/blogs/massdevice/bulls-may-have-run-little-too-far-with-st-jude-medical
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