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

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

Truist raised the firm’s price target on Medtronic (MDT) to $93 from $89 and keeps a Hold rating on the shares after its Q3 earnings beat. Despite the organic revenue miss, Medtronic saw high-single-digit EPS growth on underlying gross margin and operating leverage, the analyst tells investors in a research note. Truist adds that it is incrementally constructive on the stock amid the first “real” margin expansion quarter in years.

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