UBS downgraded Medtronic to Sell from Buy with a price target of $79, down from $127, upon assuming coverage of the stock. Despite the company’s ongoing transformation, the firm lacks conviction that it can return to sustainable, mid-single digit top-line growth, the analyst tells investors. The company’s current weighted average market growth rate in 4%-5%, but it has been losing share in some of its highest growth businesses, such as diabetes, the analyst added.
Published first on TheFly
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