Medtronic (MDT) is offering an attractive entry point following an
"overblown" reaction to its top-line fiscal Q3 miss and reiterated guidance, RBC Capital Markets said in a Tuesday note.
"Investor reaction to FQ3 results and latest guide appear overblown," RBC analysts, including Shagun Singh, said.
They said catalysts such as the Symplicity Spyral Renal Denervation System and surgical robotics keep them positive.
"We are buyers on weakness," the analysts said. "MDT's steep discount to the market is still not justified in our view."
RBC kept its outperform rating and $105 price target.
Price: 86.23, Change: +0.16, Percent Change: +0.18
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。