Medtronic price target lowered to $107 from $110 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Medtronic (MDT) to $107 from $110 and keeps a Hold rating on the shares as part of a broader research note previewing 2026 for MedTech. The firm is more positive on the industry heading into next year given a more attractive relative sector valuation, though it also sees the possibility of it being a “source” vs. a destination of new healthcare investment flows, the analyst tells investors in a research note. Truist adds it prefers names with 2026 catalysts fueling durable revenue acceleration or out-of-favor near-term narratives.