Medtronic (MDT) PT Raised to $90 at Jefferies on 'Very Good' Q3
Jefferies analyst Raj Denhoy reiterated a Buy rating and boosted his price target on Medtronic, Inc. (NYSE: MDT) to $89.00 (from $83.00) following Q3 results.
Denhoy commented, "MDT posted a very good F3Q, highlighted by: strength in CRDM, where the US quadpole launch is yielding ICD share capture from STJ and Linq continues to be a star performer; CoreValve, where TAVR market growth remains robust; and improvement in Spine. The revenue growth outlook and cost synergy targets of the Covidien deal are intact."
The firm boosted FY 2015 EPS from $4.05 to $4.48 and FY 2016 EPS from $4.36 to $4.40.
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Shares of Medtronic, Inc. closed at $78.07 yesterday.