Jefferies Reiterates Buy, Raises Price Target On Medtronic Following Very Good F3Q

In a report published Wednesday, Jefferies analyst Raj Denhoy reiterated a Buy rating on Medtronic PLC (NYSE: MDT), and raised the price target from $83.00 to $89.00.

In the report, Jefferies noted, "MDT posted a very good F3Q, highlighted by: strength in CRDM, where the US quadpole launch is yielding ICD share capture from STJ and Linq continues to be a star performer; CoreValve, where TAVR market growth remains robust; and improvement in Spine. The revenue growth outlook and cost synergy targets of the Covidien deal are intact. Reiterate Buy."

Medtronic closed on Tuesday at $78.07.