Medtronic price target raised to $115 from $105 at Argus

Argus analyst David Toung raised the firm’s price target on Medtronic (MDT) to $115 from $105 and keeps a Buy rating on the shares. The company’s constructive engagement with activist investor Elliott Management to become one of its largest holders and the appointment of two independent directors will lead to greater focus on growth at Medtronic, the analyst tells investors in a research note. Argus is also raising its FY25 EPS view on Medtronic by 8c to $5.63 and its FY26 view by 5c to $6.10.