Medtronic upgraded to Buy from Hold at Needham

Needham upgraded Medtronic (MDT) to Buy from Hold with a $121 price target The firm says the company is in the early stages of several major product launches in multi-billion dollar markets. The launches will drive faster revenue growth for Medtronic, the analyst tells investors in a research note. Needham sees potential for the new products to add over 1% to Medtronic’s overall organic revenue growth. The firm also believes Elliott Management’s involvement and the company’s new board members to improve its execution, organic growth, and profitability.