Bank of America Merrill Lynch Maintains Neutral on Medtronic

Bank of America Merrill Lynch is out with its report today on Mectronic MDT, maintaining Neutral. In a note to clients, Bank of America Merrill Lynch writes, "Overall, MDT's top-line outlook is slightly below the group, its cash flow generation is well above average, its FX risk is low, and operating leverage upside is below average. Taken together and put within the context of a company that is now hitting numbers consistently, we think MDT's discount to the group will fade over time, but we prefer other large-cap medtech names." Shares of MDT closed Tuesday at $39.01, up 1.11% from Monday's close.