EBITDAtiger

MDT price target raised to 133; pent-up demand provides tailwind

Long
NYSE:MDT   Medtronic plc
MDT price target was just upgraded to $133 by Citi. I see it overshooting that in the long run. Elective surgeries have been put off and doctor visits have been down throughout the pandemic so the amount of pent-up demand for surgical/medical care is going to be through the roof. With an aging population, healthcare is a MUST as a sector to allocate to.

MDT is an excellent way to play this sector. After periods of consolidation, MDT looks ready to head towards it's price target. My guess is it hits $150 before it reaches any significant resistance.

In terms of fundamentals, their current ratio is 2.1020, meaning they could pay their current liabilities 2 times over if sh*t hit the fan and business came to a complete halt. Highly unlikely, but if it did happen, you would be sheltered for a period of time.
Comment: break-out from consolidation appears to have begun. We will have to see if it closes at or above this level.
Trade active: way ahead of schedule. might need to reconsider price target.