Medtronic (MDT) Shares Holding Onto Positive Territory as BMO Upgrades to Outperform
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Price: $51.46 -0.14%
Rating Summary:
8 Buy, 18 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
8 Buy, 18 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade MDT Now!
Shares of Medtronic (NYSE: MDT) are up almost a percent this morning following a bullish research note and upgrade from an analyst at BMO Capital. The firm now rates MDT shares an Outperform, up from Market Perform previously.
The analyst believes that shares of Medtronic have "fallen too far too fast." BMO points to an 18% decline since mid-April given concerns related to European exposure of the medical device group. Although recent market sentiment has moved the sector away from the "safe haven" play, BMO believes that Medtronic will continue to benefit fro this assumption. Lastly, the analyst notes that "product and geographic breadth provides it levers to pull to manage foreign exchange and pricing."
With shares of Medtronic last trading around $37.54, the firm's $48 price target suggests potential upside of about 28%.
Visit our Analyst Ratings page for MDT to track all the upgrades/downgrades on the stock.
Medtronic, Inc. develops, manufactures, and sells device-based medical therapies worldwide.
The analyst believes that shares of Medtronic have "fallen too far too fast." BMO points to an 18% decline since mid-April given concerns related to European exposure of the medical device group. Although recent market sentiment has moved the sector away from the "safe haven" play, BMO believes that Medtronic will continue to benefit fro this assumption. Lastly, the analyst notes that "product and geographic breadth provides it levers to pull to manage foreign exchange and pricing."
With shares of Medtronic last trading around $37.54, the firm's $48 price target suggests potential upside of about 28%.
Visit our Analyst Ratings page for MDT to track all the upgrades/downgrades on the stock.
Medtronic, Inc. develops, manufactures, and sells device-based medical therapies worldwide.
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