UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Medtronic
In a report published Wednesday, Credit Suisse Group reiterated its Neutral rating on Medtronic (NYSE: MDT), and slightly raised its price target from $46.00 to $47.00.
Credit Suisse noted, “We see the last 2 Qs as evidence of MDT's ability to drive an improving top-line through emerging markets execution, recovery in key developed markets & M&A. Given MDT's improving top-line and conservative guidance we believe the company is the best positioned among the large-cap cardio names for near-term share price upside (though we highlight added BMP fallout as a near-term risk). We're raising our price target to $47 from $46 on a lower assumed WACC.”
Medtronic closed on Tuesday at $42.66.
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