Information Provided By:
Fly News Breaks for August 13, 2018
MDT
Aug 13, 2018 | 15:06 EDT
Needham analyst Mike Matson upgraded Medtronic to Strong Buy from Buy and raised his price target for the shares to $119 from $103. The company's product cycle remains robust and it has a number of major products in its pipeline, Matson tells investors in a research note. The analyst sees potential to upside to consensus in fiscal 2019 and finds the stock's current valuation as attractive. Further, Matson believes the new long-term financial targets given at Medtronic's investor day in June "seem more realistic."