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Fly News Breaks for February 18, 2020
MDT
Feb 18, 2020 | 14:33 EDT
Piper Sandler analyst Matt O'Brien reiterated an Overweight rating and $135 price target on Medtronic following the company's "mixed" third quarter results. O'Brien noted that most of the key new products in development or hitting the market are on track, which should result in accelerating revenue growth in fiscal 2021 and 2022. The analyst added that, overall, Medtronic shares still trade at a discount to other large cap med tech names, which, along with a "robust" pipeline of new products accelerating growth, should push shares higher.
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