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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDT:
- Medtronic’s Earnings Call Highlights Strong Growth and Raised Guidance
- Medtronic price target raised to $117 from $107 at Morgan Stanley
- Medtronic’s Strong Financial Performance and Growth Potential Justifies Buy Rating
- Medtronic price target raised to $115 from $100 at BofA
- Medtronic price target raised to $117 from $112 at Citi