January 17, 2013 at 09:28 AM EST
Credit Suisse Upgrades Medtronic (MDT)

Credit Suisse reported on Thursday that they have increased their rating for medical technology company, Medtronic, Inc.(MDT).

The firm has upgraded MDT from “Neutral” to “Outperform,” and has given the company a $50 price target. This price target suggests a 11% increase from the stock’s current price of $44.51.

Analysts see the company growing faster than current estimates in the next few quarters.

Medtronic shares were up 57 cents, or 1.3% during premarket trading Thursday. The stock has increased 14% in the past year.

The Bottom Line
Shares of Medtronic (MDT) have a 2.37% dividend yield, based on last night’s closing stock price of $43.94. The stock has technical support in the $40-$41 price area. If the shares can firm up, we see overhead resistance around the $46-$48 price levels.

Medtronic, Inc.(MDT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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