Wall Street Analysts See Upside Potential for 5 Stocks with Rising Price Targets

In this article, we discuss the 5 stocks receiving price-target hike from Wall Street analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets.

05. Medtronic plc (NYSE:MDT)

Upside Potential: 23%

On August 23, UBS Group opted to revise its target for Medtronic plc (NYSE:MDT), a well-established player in medical technology. The newly adjusted target price has been altered from $79 to $82, suggesting the potential for an increase in the target valuation. Despite this alteration, UBS Group has upheld its “Sell” rating for the stock. This modification in the target price indicates that UBS Group envisions the possibility of Medtronic plc (NYSE:MDT) stock reaching the $82 mark within a specific timeframe. The “Sell” rating underscores UBS Group’s perspective that the company’s performance might not be in sync with favorable market trends. Their analysis suggests that it may not be an appealing choice for investment.

Appleseed Fund made the following comment about Medtronic plc (NYSE:MDT) in its Q1 2023 investor letter:

“During the most recent quarter, Appleseed Fund added three new equity holdings: Medtronic plc (NYSE:MDT), Stanley Black & Decker (SWK), and Synovus Financial (SNV). Medtronic is the world’s largest device manufacturer, and it holds the number one or number two market share in most of its product segments. Medtronic’s business is heavily weighted towards complicated in-patient procedures, which are typically quite profitable. Industry dynamics are quite attractive with an aging global population and the growth of improved healthcare in emerging markets; furthermore, most of its segments are highly concentrated with just 2-3 players that split each segment’s market share, affording the key participants with significant economies of scale and pricing power. The Company has been recently addressing several temporary headwinds including a strong dollar, inflation, a delayed recovery in surgical volumes from the coronavirus pandemic, and supply chain issues. Once these issues reach the rearview mirror, the Company’s growth and margin expansion plans should transform into reality.”