UPDATE: Oppenheimer Lowers PT on Medtronic from $48 to $42

Oppenheimer has published a research report on Medtronic

lowering the price target. In the report, Oppenheimer wrote, "On MDT's F1Q call, mgmt noted continued ICD/Spine pressures, reiterated FY12 guidance on solid performance from its remaining business lines/cost savings, and discussed new CEO Omar Ishrak's priorities for reinvigorating growth." Oppenheimer rated Medtronic an Outperform with a price target lowered from $48.00 to $42.00. Medtronic closed Tuesday at $33.10.