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St. Jude Medical impact from 483 letters likely minimal, says Piper Jaffray

Piper Jaffray expects St. Jude Medical will see a minimal business impact from the form 483 letters as it believes physicians have been moving away from using Durata for the last 12-18 months. Piper keeps an Overweight rating on St. Jude shares with a $48 price target.