Medtronic, Inc. (MDT) PT Raised to $95 at UBS

UBS analyst Danielle Antalffy raised the price target on Medtronic, Inc. (NYSE: MDT) to $95.00 (from $94.00) while maintaining a Neutral rating.

The analyst commented, "MDT shares felt pressure after the Q1 print despite delivering sales/EPS upside, falling short of demonstrating a more clear outline of growth reacceleration that has been the crux of the bear thesis. We’re not surprised that the reacceleration hasn’t yet come through as we view it as more of a 2HFY26/into FY27 when the key new products should start to contribute in a meaningful way, with Affera in CAS (Cardiac Ablation Solutions) still somewhat supply constrained, RDN (Renal Denervation) ramp likely to be limited until reimbursement is fully in place (CMS set to go into effect in October, private pay likely follows). Still, we do think execution risk remains -- particularly within MedSurg which continues to grow low-single-digits with management citing even lower growth in F2Q26 as headwinds persist. Although MDT is focused on the upcoming Hugo surgical robot launch to turn this business around, this is the area where we have the most skepticism (given the competitive backdrop from the incumbent) and the basis of our Neutral rating."

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