Medtronic price target raised to $118 from $111 at RBC Capital

RBC Capital raised the firm’s price target on Medtronic (MDT) to $118 from $111 and keeps an Outperform rating on the shares. The company delivered a 1.0% beat on sales and 3.8% on EPS in Q2, driven by accelerating cardiovascular performance, the analyst tells investors in a research note. RBC further cites Medtronic expecting similar growth in Q3 and to exit the FY at 6%, noting that its thesis of growth acceleration is playing out.