UPDATE: BMO Capital Markets Cuts PT to $41 on Medtronic After Analyst Meeting
BMO Capital Markets reiterates its Outperform rating on Medtronic (NYSE: MDT) but lowers its price target from $45 to $43.
BMO Capital Markets comments, "Medtronic hosted its analyst meeting in NYC, its first in two years and the first with Omar Ishrak as CEO, outlining the company's key drivers: 1) leading portfolio and pipeline; 2) market stabilization; 3) improved execution; and 4) emerging market growth. Management's goal is to consistently increase EPS 200-400 bp faster than revenue, returning 50% of FCF to shareholders, and improve to consistent mid- to single-digit revenue growth."
MDT closed at $36.11 on Friday.
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