TD Cowen analyst Josh Jennings maintained a Buy rating on Medtronic (MDT – Research Report) yesterday and set a price target of $95.00.
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Josh Jennings has given his Buy rating due to a combination of factors that suggest Medtronic is poised for growth. The company is expected to meet or exceed market expectations for its upcoming fiscal fourth-quarter results. Despite potential challenges from China tariffs affecting earnings per share, Medtronic’s sales outlook aligns with consensus estimates, indicating a robust organic growth trajectory.
Furthermore, Medtronic’s product portfolio advancements are seen as a positive driver for near-term growth. The company’s revenue and earnings projections for the fiscal year appear achievable, with potential for outperformance based on historical trends and comparisons with industry peers. Jennings’s analysis suggests that Medtronic’s consistent ability to surpass earnings expectations supports a favorable outlook for the stock.
In another report released on May 9, Bank of America Securities also maintained a Buy rating on the stock with a $100.00 price target.