Wunderlich Maintains Buy on Medtronic

Wunderlich is out with its report today on Medtronic MDT, maintaining Buy. In its report, Wunderlich writes, "We believe fiscal 2012 guidance was set conservatively back in May, a common courtesy to an incoming CEO, though MDT's operating environment has only gotten more difficult since that time. While most of the attention will be on Ishrak's 'vision' and game plan for MDT, we do believe it is important for MDT and Ishrak to get the fiscal year off to a solid start. We expect MDT to hit or modestly exceed our slightly below-consensus estimates for Q1. We reiterate our Buy rating on MDT." Wunderlich maintains a $46 PT on MDT. Shares of MDT closed Friday at $31.29, up 0.13% from Thursday's close.