Medtronic Upgraded To Outperform From Market Perform At William Blair

Analyst Ben Andrew of William Blair upgraded Medtronic, Inc. (MDT) from Market Perform to Outperform in a research report released on today.

“We are raising our rating on Medtronic to Outperform from Market Perform based on the likely operating, tax, and future revenue synergies from this combination. While we will have to wait to flush out the full details of our new projections, Medtronic closed Friday at a price-to-earnings multiple of 14.1 times our 2015 calendar EPS estimate of $4.32, an attractive entry point for a now-faster-growing large cap medical technology player”, Andrew wrote.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Ben Andrew, who covers MDT, currently has a one-year average return of 8.7% and a 75% success rate. He is ranked #1346 out of 3103 analysts.

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