Medtronic price target raised to $90 from $87 at Stifel

Stifel raised the firm’s price target on Medtronic (MDT) to $90 from $87 and keeps a Hold rating on the shares following Q1 results. Medtronic’s negative post-earnings stock reaction surprised and is perhaps attributable to investors hoping for a more-compelling beat-and-raise, the firm told investors in a research note. Stifel added that the implied 16x FY26 EPS trading multiple appears similar if not at a slight premium to other mid-single-digit, diversified large-cap growth companies in the firm’s coverage universe.