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.

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 $78.07 yesterday.

You May Also Be Interested In

• Jefferies Downgrades Xior Student Housing NV (XIOR:BB) to Hold
• JPMorgan Reiterates Overweight Rating on Legrand SA (LR:FP) (LGRDY) and Places on Positive Catalyst Watch
• Jefferies Upgrades Energean Oil & Gas (ENOG:LN) (EERGF) to Hold