Medtronic initiated with an Outperform at Credit Suisse. Credit Suisse analyst Matt Miksic initiated Medtronic with an Outperform rating and a price target of $109 as part of his broader research note on Medical Supplies and Devices partially titled “No Disruption, No Alpha”, saying the stock offers “favorable exposure” to Structural Heart and Robotic Surgery medicine. The analyst also believes that Medtronic is a “sustainable market leader” with an attractive portfolio of “emerging-and high-growth businesses organically and via tuck-in deals”. Having integrated most of the Covidien assets, Miksic also expects Medtronic to be “more active on the M&A front”.
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