Morgan Stanley Maintains Overweight on Medtronic, Lowers Price Target to $98
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Cecilia Furlong has maintained an Overweight rating on Medtronic (NYSE:MDT) but reduced the price target from $104 to $98.

November 22, 2023 | 1:39 pm
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NEUTRAL IMPACT
Morgan Stanley has maintained its Overweight rating on Medtronic but lowered the price target from $104 to $98, indicating a positive outlook but with reduced expectations.
While the Overweight rating suggests that Morgan Stanley still sees Medtronic as a good investment, the reduction in the price target could imply a tempered expectation for the stock's performance. This might lead to a neutral short-term impact as the market digests the positive rating against the lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100