Morgan Stanley raised the firm’s price target on Medtronic (MDT) to $117 from $107 and keeps an Overweight rating on the shares. The firm updated its model following Q2 results, incorporating the latest financials and making modest changes tot its projections in light of business performance and guidance. The price target assumes Medtronic can trade at a slight premium to comps on more sustained operational execution/mid-single digit+ organic growth, the analyst tells investors in a research note.
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