Morgan Stanley Assumes Medtronic, Inc. (MDT) at Overweight, 'More heartthrob than heartbreaker'

Morgan Stanley analyst Patrick Wood assumes coverage on Medtronic, Inc. (NYSE: MDT) with a Overweight rating and a price target of $104.00.

The analyst comments "MDT's restructuring of internal operations (e.g. 13 supply companies to 2) should drive more consistent performance, while our bottom-up work shows 4 areas that could drive midteens EPS upside, adding some $5-6bn to group sales longer term. Assume coverage and move to Overweight, new PT $104."

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 $81.46 yesterday.

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