Medtronic resumed with an Overweight at Wells Fargo

Wells Fargo analyst Larry Biegelsen resumed coverage of Medtronic (MDT) with an Overweight rating and $114 price target The firm says Medtronic remains a top pick as it sees continued Affera runway and increasing contribution from new products. The company continues to expect an incremental $1B of CAS sales by the first half of 2027 as Affera ramps in the U.S. and Outside-U.S., Wells adds.