Citi Has Buy Rating On Medtronic

Citi Investment Research has a Buy rating and a $48 price target on shares of Medtronic Inc MDT. In the note, Citi writes, "While STJ continues to garner bullish Street calls, commentary on MDT has been light since the F4Q11 earnings call. We expect this to change during 2H11, as MDT offers more conservative guidance, a stronger pipeline, and a lower valuation." Shares of MDT gained 6 cents on Friday to close at $38.40, a gain of 0.16%.