Will This Coverage Initiation Help Medtronic (MDT) Stock Today?

NEW YORK (TheStreet) -- Needham initiated coverage on Medtronic  (MDT) with a "buy" rating and a $74 price target.

The firm said new products should drive growth in the coming quarters.

The stock closed at $62.54 on Monday.

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Separately, TheStreet Ratings team rates MEDTRONIC INC as a Buy with a ratings score of A-.

TheStreet Ratings Team has this to say about their recommendation:

"We rate MEDTRONIC INC (MDT) a BUY. 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, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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