Bernstein analyst Lee Hambright raised the firm’s price target on Medtronic (MDT) to $98 from $97 and keeps an Outperform rating on the shares. Medtronic reported a “good” quarter, but a miss vs. elevated buy-side expectations, the analyst tells investors in a research note. The firm hopes the activist “nudge” by Elliott will help Medtronic capitalize on growth opportunities, reinvest in the business, consider bolder portfolio moves, and ramp tuck-in M&A.
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