Standpoint Research Starts Medtronic, Inc. (MDT) at Accumulate
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Price: $82.01 -2.17%
Rating Summary:
24 Buy, 19 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 20 | New: 69
Rating Summary:
24 Buy, 19 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 20 | New: 69
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Standpoint Research initiates coverage on Medtronic, Inc. (NYSE: MDT) with a Accumulate. PT $38.00.
The firm states, "MDT is actually reporting quarterly earnings tomorrow (Tuesday). Risk averse investors may want to sit on the sideline until after this announcement is made. At 9X trailing twelve months earnings, 8X forward estimates, 50% off the all-time high from December 2000, trading at 1997 levels adjusted for inflation and down 25% since May 18, we have decided to step in at this time. This call is not a forecast of good news tomorrow but a bet that the market has already priced in bad news, and that the odds are tipped in our favor for an upside move in the share price over the next 12-24 months."
For more ratings news on Medtronic, Inc. click here and for the rating history of Medtronic, Inc. click here.
Shares of Medtronic, Inc. closed at $31.54 yesterday.
The firm states, "MDT is actually reporting quarterly earnings tomorrow (Tuesday). Risk averse investors may want to sit on the sideline until after this announcement is made. At 9X trailing twelve months earnings, 8X forward estimates, 50% off the all-time high from December 2000, trading at 1997 levels adjusted for inflation and down 25% since May 18, we have decided to step in at this time. This call is not a forecast of good news tomorrow but a bet that the market has already priced in bad news, and that the odds are tipped in our favor for an upside move in the share price over the next 12-24 months."
For more ratings news on Medtronic, Inc. click here and for the rating history of Medtronic, Inc. click here.
Shares of Medtronic, Inc. closed at $31.54 yesterday.
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