RBC Capital analyst Shagun Singh downgraded Medtronic to Sector Perform from Outperform with a price target of $89, down from $102. For 2023, The analyst favors medical supply and device stocks with exposure to procedures less likely to be deferred, new product cycles and the ability to win market share. Singh downgraded Medtronic on a lack of outperformance potential relative to peers given its recent disappointment in execution and lost management credibility.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MDT:
- Acadia Healthcare names Laura Groschen chief information officer
- Acutus Medical achieves second milestone under agreement with Medtronic
- Fly Insider: Willdan Group, Medtronic among weeks’ notable insider transactions
- Catch These 6 Stocks Before Their Ex-Dividend Dates
- Amazon, Google among Barron’s 10 favorite stocks for 2023