Medtronic has room to run after setting the stage for its future growth, so investors should add shares to their portfolios to reap the returns, according to BTIG. The investment firm upgraded the medical technology name to buy from neutral. It also set a $90 price target for shares, implying 15% upside from Wednesday's close. "MDT's underlying organic revenue growth is structurally higher than in the past and with combined growing new product contributions … we see an attractive top-line set up," analyst Ryan Zimmerman said in a note to clients. "Against this backdrop, MDT trades at a discount to peers in a market where income and durability are underappreciated." Medtronic is trading at 13 times forward earnings, per FactSet, while peers have a rough multiple of 16.6. The company delivered its strongest yearly revenue in 10 years in fiscal 2026, while it has shown signs of organic top-line growth acceleration in the subsequent fiscal period, according to BTIG. The medtech firm has also provided "the most concrete evidence to date that new product contributions are commercially inflecting," Zimmerman noted. Medtronic's newer offerings, including a Food and Drug Administration-approved implant for urinary incontinence called Altaviva and a high blood pressure treatment named Symplicity, could increasingly contribute to its business over the next year, he added. BTIG's call falls in line with consensus on the Street. Of the 33 analysts covering Medtronic, 18 have a buy or strong buy on the stock, LSEG data shows. Shares have fallen nearly 19% in the year to date.
<small>Source: CNBC</small>
