Piper Jaffray Reports Price Target Of $44 For Medtronic

According to Piper Jaffray, Medtronic MDT price target is $44. Piper Jaffray said that, while more negative focus on InFuse will likely continue to pressure spine division sales, the larger portion of MDT's spine business, core constructs, are trending upward. “Our price target of $44 is based on the stock trading at ~11x our C12 EPS estimate of $3.95.” Watson Pharmaceuticals closed yesterday at $68.20.