Medtronic: Credit Suisse lowers target

(CercleFinance.com) - Credit Suisse confirms its outperform opinion on Medtronic, but with a price target down from 146 to 142 dollars, due to a reduction in its revenue forecasts for the 2021-22 and 2022-23 financial years.


The broker substantiates this decrease by the management suggestions concerning the potential impact of an FDA warning letter last week on the subject of the medical equipment group's diabetes activity.

The analyst notes that management is expecting the diabetes activity to see a percentage drop towards the top of the range for its third accounting quarter and towards the middle of the range for the 2021-22 financial year.

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