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Fly News Breaks for August 16, 2019
Aug 16, 2019 | 09:26 EDT
RBC Capital analyst Brandon Henry raised his price target on Medtronic to $110 and kept his Outperform rating ahead of its Q1 earnings, saying he expects the company to "at least" achieve the high end of its organic revenue growth guidance range. The analyst sees upside in his model to Medtronic's TAVR and Neurovascular segments, which could add an incremental 20-30bps to his organic revenue growth forecast combined. Henry further cites the company's "robust" product pipeline and believes that the management's forecast of at least 4% organic growth through FY22 is achievable.