Medtronic maintained by Bear Stearns at market outperform

Medtronic Inc. was maintained by Bear Stearns analyst Rick Wise with a price target on the stock of $64 per share. Bear Stearns believes the upcoming Oct. 11 analyst day will provide a lift in share price. Despite possible questions raised about the five-year, 1,200-patient sport trial, which shows certain patients do not need spinal fusions, Bear Sterns said Medtronic's pipeline and emerging opportunities will continue to drive top-line growth. Medtronic shares Monday were down $0.39, or 0.73%, at $53.23 on volume of 4,752,900 shares versus the three-month running average of 3,421,680 shares.

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