Goldman Sachs upgraded Medtronic (MDT) to Neutral from Sell with a price target of $111, up from $81. Post Q2 results, the firm noted that the company’s new product momentum is picking up and overall P&L metrics have taken another step in the right direction. Across all metrics, what was most notable was the accelerated growth in R&D and SG&A, setting the stage for more durable performance, the analyst tells investors in a research note.
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