Goldman Sachs Upgrades Medtronic (MDT) to Buy

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Goldman Sachs upgraded Medtronic, Inc. (NYSE: MDT) from Neutral to Buy and raised their price target from $37 to $45, citing higher EPS forecasts and an increase in peer group multiples.

The firm said new management could take more aggressive corporate action that could drive upside. In the immediate term, the launch of new products in cardiac rhythm disease management and spine and a recovery in end-user markets will act as catalysts to drive the stock higher.

For more ratings news on Medtronic, Inc. click here and for the rating history of Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $37.99 yesterday, with a 52 week range of $30.80-$46.35.

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