RBC Capital raised the firm’s price target on Medtronic (MDT) to $111 from $103 and keeps an Outperform rating on the shares as part of a broader research note on MedTech ahead of Q3 results. There is broad interest in the Medical Supplies & Devices sector, with multiple opportunities across the landscape and attractive valuations with dislocations creating opportunities, the analyst tells investors in a research note. Sentiment for Medtronic has continued to improve in recent months with investors looking for dislocations, and catalyst-driven names at reasonable valuations, the firm added.
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