Wells Fargo ups St. Jude Medical (STJ +0.4%) to Outperform on valuation this morning, saying the government's investigations into off-label use of implantable cardioverter-defibrillators - like St. Jude's Riata and Durata devices - are nearly done. The investigation caused an 12% drop in the overall U.S. ICD market in 2011, which makes up a big chunk of STJ's total sales. Despite safety concerns about the devices, however, Wells says the company has maintained its market share.
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