Medtronic (MDT) Stock: $120 Price Target And Buy Rating

By Amit Chowdhry ● May 17, 2022
  • The shares of Medtronic PLC (NYSE: MDT) have received a $120 price target from Citi. These are the details.

The shares of Medtronic PLC (NYSE: MDT) have received a $120 price target from Citi. And Citi analyst Joanne Wuensch is maintaining a “Buy” rating on the shares. 

Wuensch cited market multiples are contracting due to higher inflation, slowing growth, and rising interest rates. But Wuensch does not know how far the derating will go and where medical technology shakes out, balancing an elective procedure recovery with macro headwinds. 

“When is the right time to catch a falling knife? If recent history is any suggestion, the answer could be ‘soon,'” wrote Wuensch in a research note.

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