Medtronic (MDT) Message Board

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Biotech / Medical : Medtronic (MDT)

MDT 90.41

0.0%

Nov 5 3:59 PM EST

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To: Jack Hartmann who wrote (578)	8/21/2002 12:15:34 PM
From: Jack Hartmann	Read Replies (2) of 687

More analysts Medtronic (MDT / NYSE) Warburg Dillon Read We reiterate our Strong Buy rating. Only one more ugly quarter to go in vascular (could be down 40%), but new product momentum should overwhelm this adverse swing. MDT shares remain our primary pick for investors in the sector combining a strong new product story, the chance for upside earnings surprises in the second half, and still a quite reasonable valuation, in our view. Medtronic (MDT / NYSE) Morgan Stanley Co. Raising our 2003 sales projection to growth of 16%, because of strong momentum in the company's CRM franchise. Quality of earnings also improved in the most recent quarter. Reiterate Overweight rating and $47 price target. Medtronic (MDT / NYSE) Bear Stearns Medtronic reported a very solid quarter with impressive performance in cardiac rhythm management and spine businesses. We think MDT shares can trade in the mid-$50 range over the next 12-months as the company capitalizes on the deep new CRM product pipeline and investors regain confidence on the vascular side of the business. Our target price assumes that MDT can trade at roughly 35x our CALENDAR 2003 EPS estimate of $1.59. We reiterate our Attractive rating.

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