Medtronic price target lowered to $95 from $103 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Medtronic (MDT) to $95 from $103 and keeps a Hold rating on the shares as part of a broader research note previewing Q1 results in MedTech. The firm expects Q1 performances to be in line or better than what feels like an anxious investor sentiment around Q1 volumes, the analyst tells investors in a research note. Truist adds that the stock’s discount could narrow given that we are now one quarter closer to potentially meaningful revenue accelerants, though the company will have to demonstrate faster revenue and EPS growth prospects for sustainably higher multiples.