J.P. Morgan Raises Medtronic PT To $41 (MDT)

J.P. Morgan raised its Medtronic MDT price target from $39 to $41 in a research report published today. In the report, J.P. Morgan states, "Medtronic is scheduled to report 3Q results on Tuesday, February 22. Our forecast calls for revenues of $3.98B (+3.5% reported, 4.0% constant currency, and 2.0% organic) and EPS of $0.86 (+11.3%). Our forecast is largely in-line with consensus with one notable exception: on the tax line, where Medtronic should see a $30M ($0.03) catch-up benefit from the extension of the R&D tax credit during the quarter." Shares of Medtronic were at $40.11 in Thursday after hours trading, down 0.39% from Thursday's market close.