Medline initiated with a Buy at Citi

Citi initiated coverage of Medline (MDLN) with a Buy rating and $48 price target Medline is a supplier of medical-surgical products that manufactures and distributes proprietary products as well as numerous third-party products, notes the analyst, who believes a share gain opportunity will drive sustainable high-single digit revenue growth. Medline “offers a unique opportunity with its defensive high growth product offering” and out year expansion off a lower margin profile, the analyst tells investors.