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Fly News Breaks for February 23, 2017
MDT
Feb 23, 2017 | 07:52 EDT
Leerink analyst Danielle Antalffy raised her price target for Medtronic to $85 from $80 after the company delivered what he believes was an "encouraging rebound" quarter after an unexpected Q2 miss. While the analyst remains cautious on the company's ability to manage through what could be meaningful top-line headwinds in Q4 and FY18 in order to deliver a targeted mid-single-digit sales growth, it does seem that the diversified business model gives it a cushion with which to offset underperforming business segments with stronger/faster growth elsewhere. He reiterates a Market Perform rating on the shares.