UPDATE: J.P. Morgan Lowers Price Target On Medtronic To $39

According to J.P. Morgan, Medtronic MDT price target is lowered to $39. J.P. Morgan said that Medtronic is scheduled to report fiscal 1Q12 results Tuesday, August 23 before the market open. “On the top line, we forecast sales of $4.064B (+7.7%, +1.7% organic), roughly $80M above Street consensus on a higher contribution from currency (500bps).” Medtronic closed on Friday at $31.54.