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NEW YORK (TheStreet) -- Shares of Medtronic (MDT)  were slipping in early-afternoon trading on Wednesday as the Dublin-based medical technology and services company is expected to post 2017 first quarter results before Thursday's opening bell. 

Wall Street is looking for earnings of $1.01 per share and $7.17 billion in revenue. 

Medtronic reported earnings of $1.02 per share on $7.27 billion in revenue for the 2016 first quarter. 

Foreign currency translation created a negative $179 million impact on 2016 fourth quarter revenues and Medtronic said it expects a negative foreign currency impact of $25 million to $75 million on revenues in 2017. 

Citi initiated coverage of Medtronic yesterday with a "buy" rating and a $102 price target. The firm cited six separate U.S. physician surveys indicating that respondents were confident Medtronic can grow sales at a 6% compound annual growth rate through 2021, according to TheFly

Additionally, Cowen analysts said they view Medtronic as a "compelling opportunity" given the stock's discount valuation relative to its peers. Cowen maintained its "outperform" rating on the stock and $94 price target, TheFly reports. 

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TheStreet Recommends

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate MEDTRONIC PLC as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, expanding profit margins and compelling growth in net income. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: MDT

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