Injunction delay 'temporary victory' for Medtronic, says Wells Fargo

Wells Fargo said the U.S. Appeals Court's injunction delay, which will allow Medtronic (MDT) to sell its CoreValve system in the U.S., is "at least a temporary victory" for Medtronic. The firm said that while the injunction, sought by Edwards Lifesciences (EW) to prevent the sale of the CoreValve system, is less likely to be upheld, it believes that Edwards will at least receive monetary damages in the form of lost profits. Wells maintains an Outperform rating on shares of both Medtronic and Edwards.