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Fly News Breaks for February 19, 2020
MDT
Feb 19, 2020 | 07:41 EDT
Morgan Stanley analyst David Lewis said Medtronic had a "setback quarter" that was challenging on multiple fronts due to a combination of "transient" issues and weaker isolated segment performance. While the issues in this quarter were less structural and more based on execution, the results may still reignite concerns around durability of growth and operational consistency since "transient issues" have had a "penchant for recurring with Medtronic in the past," contends Lewis. He maintains an Equal Weight rating and $123 price target on the shares.
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