Analyst Travis Steed of Bank of America Securities reiterated a Buy rating on Medtronic (MDT – Research Report), retaining the price target of $100.00.
Travis Steed has given his Buy rating due to a combination of factors that suggest a promising outlook for Medtronic. One of the key reasons is the company’s strong position in managing its intellectual property within the United States, which helps maintain a stable tax rate despite its Ireland domicile. Additionally, Medtronic is actively addressing tariff exposure and working with trade associations to mitigate potential impacts, indicating a proactive approach to macroeconomic challenges.
Furthermore, Medtronic’s fundamental growth drivers and pipeline appear robust, with the company expected to provide FY26 guidance soon. The EP business is anticipated to accelerate, potentially exceeding last quarter’s growth of 22%, and Medtronic is seen as having significant upside potential in this area. The company is also scaling up production of its Sphere 9 catheter, addressing supply constraints, and expanding its workforce to meet strong demand. These factors collectively support the Buy rating, as Medtronic is well-positioned for future growth.
In another report released on March 27, Bernstein also maintained a Buy rating on the stock with a $93.00 price target.