Mizuho Upgrades Medtronic to “Buy” (MDT)
On Thursday analysts at Mizuho upgraded Medtronic, Inc. (MDT) as the spine business is expected to grow through new products and an expansion of insurance benefiting the medical technology firm.
The analysts upgraded MDT from “Neutral” to “Buy.” Shares of MDT are now expected to reach $49. This target is a +17% upside to Wednesday’s closing price of $41.88.
Medtronic shares were up 49 cents, or +1.17%, during morning trading on Thursday.
The Bottom Line
Shares of Medtronic (MDT) have a 2.48% dividend yield, based on last night’s closing stock price of $41.88. The stock has technical support in the $39-$40 price area. If the shares can firm up, we see overhead resistance around the $43-$45 price levels.
Medtronic, Inc. (MDT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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