Wolfe Research Upgrades Medtronic (MDT) to Peer Perform
Wolfe Research analyst Mike Polark recently upgraded Medtronic plc (NYSE:MDT) from Underperform to Peer Perform, citing short-term upside potential while maintaining a cautious long-term outlook. In a note to investors, Polark clarified that this is not a 'Medtronic is fixed forever' call, but rather a recognition of near-term momentum, particularly driven by the ramp-up in its pulsed field ablation (PFA) technology following the Affera acquisition.
A surgeon in a modern operating room holding advanced medical devices with a sense of purpose and accuracy.
The Affera platform, which Medtronic integrated into its cardiac ablation portfolio, is gaining traction as a next-generation solution for treating atrial fibrillation. This growth area is expected to provide a meaningful lift to earnings, with the firm noting that FY26 estimates may prove 'a touch favorable' based on current procedural trends and early adoption signals. While Wolfe Research remains reserved on broader structural challenges facing the company, including competition and operational complexity, the improving dynamics in cardiac rhythm and ablation technologies offer a reason to moderate their rating.
Beyond its hardware leadership, Medtronic plc (NYSE:MDT) has increasingly incorporated AI into its devices and digital health tools. From AI-powered diagnostics in its GI Genius platform to algorithm-driven insights in its cardiac monitoring solutions, the company is advancing the use of machine learning across multiple therapeutic areas. These capabilities underscore Medtronic's evolution into a healthcare technology company, leveraging both device innovation and AI-driven analytics to improve outcomes and drive precision medicine.
While we acknowledge the potential of MDT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MDT and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 13 Best Biotech Stocks To Invest In Now and 12 Best Healthcare Stocks to Buy Now.
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