Covidien’s Target, Estimates Boosted at Goldman Sachs (COV)


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Healthcare products maker Covidien plc ( COV ) on Tuesday saw its price target and earnings estimates raised by analysts at Goldman Sachs.

The firm said it now expects COV shares to reach $60, implying a 15% upside to the stock's Monday closing price of $52.

Goldman Sachs also maintained its its "Buy" rating and raised its earnings estimates for the company, citing further share buybacks.

Covidien shares were unchanged in premarket trading Tuesday.

The Bottom Line
Shares of Covidien ( COV ) have a 1.54% dividend yield, based on last night's closing stock price of $52.00. The stock has technical support in the $45-$50 price area. The stock is trading in the all-time high range of $55-$57 a share.

Covidien plc ( COV ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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