Deutsche Bank Downgrades Medtronic, Inc. (MDT) to Hold; Moving to the Sidelines

Deutsche Bank downgraded Medtronic, Inc. (NYSE: MDT) from Buy to Hold, price target lowered from $43 to $41.

Deutsche analyst says, "Our Buy rating was based on the stock's low valuation and expectations as well as our view that trends should improve. However, this most recent quarter underscores the growth challenges facing Medtronic that are market and company-specific. Though the stock is somewhat inexpensive, we think it's likely to remain such until CRM or spine improve (we don't expect in the near-term) or there is greater confidence in the strategic direction. We believe other stocks offer more value in our space."

For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $38.99 yesterday.

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