JPMorgan stays Neutral, lifts target on Medtronic

|About: Medtronic plc (MDT)|By:, SA News Editor

JPMorgan tweaks estimates on Medtronic (MDT) on the heels of the company's FQ2 report.

Analyst Michael Weinstein calls the results "solid" and boosts his price target to $63 from $59.

Neutral rating reiterated.

On the call, Weinstein asked management if they were confident in emerging market reacceleration (emerging market revenue grew just 1.8% sequentially in FQ2), to which CEO Omar Ishrak responded: "I think this quarter we just happened to have a bunch of different regions slow down. Just by coincidence everything happened together. We expect this to rapidly start to reaccelerate, because everywhere I go, the fundamental growth drivers are clearly there." (transcript)