Medtronic price target raised to $90 from $87 at Truist

Truist analyst Richard Newitter raised the firm’s price target on Medtronic to $90 from $87 and keeps a Hold rating on the shares. The company reported a “modest” Q3 earnings beat and guidance raise amid U.S. diabetes acceleration and gross margin upside helped by certain value-based procurement China delays, the analyst tells investors in a research note. Medtronic’s FY25 organic growth outlook looks achievable, though the firm remains at Hold pending more confidence that mid-single-digit revenue growth can translate into faster earnings growth profile, the firm added.