Medtronic price target lowered to $89 from $93 at Truist

Truist lowered the firm’s price target on Medtronic (MDT) to $89 from $93 and keeps a Hold rating on the shares as part of a broader research note previewing 2025 in Medical Technology. The firm sees the sector as “one of the better/safer houses” in healthcare given its lower “front-line” exposure to healthcare policy rhetoric that is tied to the administration change as well as its position as an “innovation segment” with sustainable above-average revenue and EPS growth, strong balance sheets, and healthy free cash flows. Truist adds that it prefers small-mid size companies over large caps as M&A may be “poised to heat up”.