<p>威廉·布莱尔分析师布兰登·瓦兹奎兹在 12 月 18 日对 MDT 股票维持中性立场，给予持有评级。</p>
<p>布兰登·瓦兹奎兹给予持有评级的原因主要是基于他更新的财务模型，而非美敦力基本面展望的变化。他保持了收入预测不变，表明他目前没有看到能够推动更强劲的收入增长的催化剂。同时，他将利息支出假设上调，以更好地与管理层的指示相匹配，这导致他的每股收益展望略微下调。这些更新后的每股收益预测现在与公司的非 GAAP 指引紧密相关，暗示与市场上已经反映的预期相比，短期内的上行空间有限。</p>
<p>鉴于他的预测与管理层的目标大致一致，瓦兹奎兹似乎认为风险/回报特征是平衡的，而不是偏向显著的上行或下行。收入展望没有实质性变化，加上因利息成本上升带来的轻微盈利压力，支持了中性立场，而不是更明确的买入或卖出。实质上，相较于其修正后的盈利展望和当前指引，该股票似乎被合理定价，因此他维持持有推荐。</p>
<p>在 12 月 18 日发布的另一份报告中，Truist Financial 也对该股票维持持有评级，目标价为 107.00 美元。</p>

美敦力

<p>威廉·布莱尔分析师布兰登·瓦兹奎兹对美敦力（Medtronic，股票代码：MDT）维持持有评级，理由是每股收益指引一致以及更高的利息成本。瓦兹奎兹更新的财务模型反映出短期内上涨空间有限，收入预测保持不变，利息支出假设上调。Truist Financial 也维持持有评级，目标价为 107 美元，表明该股票相对于其收益前景和当前指引被合理定价</p>

<p>William Blair analyst Brandon Vazquez has maintained their neutral stance on MDT stock, giving a Hold rating on December 18.</p>
<div class="lb-trans"><p>威廉·布莱尔分析师布兰登·瓦兹奎兹在 12 月 18 日对 MDT 股票维持中性立场，给予持有评级。</p>
</div><p>Brandon Vazquez has given his Hold rating due to a combination of factors tied mainly to his updated financial model rather than a change in Medtronic’s fundamental outlook. He kept his revenue projections intact, indicating he does not currently see a catalyst that would drive stronger top-line growth than previously expected. At the same time, he revised his interest expense assumptions upward to better match management’s indications, which led to a modest reduction in his earnings-per-share outlook. These updated EPS projections now track closely with the company’s own non-GAAP guidance, suggesting limited near-term upside versus expectations already reflected in the market.</p>
<div class="lb-trans"><p>布兰登·瓦兹奎兹给予持有评级的原因主要是基于他更新的财务模型，而非美敦力基本面展望的变化。他保持了收入预测不变，表明他目前没有看到能够推动更强劲的收入增长的催化剂。同时，他将利息支出假设上调，以更好地与管理层的指示相匹配，这导致他的每股收益展望略微下调。这些更新后的每股收益预测现在与公司的非 GAAP 指引紧密相关，暗示与市场上已经反映的预期相比，短期内的上行空间有限。</p>
</div><p>Given that his forecasts largely converge with management’s targets, Vazquez appears to view the risk/reward profile as balanced rather than skewed toward either significant upside or downside. The lack of material changes to the revenue view combined with only slight earnings pressure from higher interest costs supports a neutral stance instead of a more decisive Buy or Sell. In essence, the stock appears fairly valued relative to its refined earnings outlook and current guidance, leading him to maintain a Hold recommendation.</p>
<div class="lb-trans"><p>鉴于他的预测与管理层的目标大致一致，瓦兹奎兹似乎认为风险/回报特征是平衡的，而不是偏向显著的上行或下行。收入展望没有实质性变化，加上因利息成本上升带来的轻微盈利压力，支持了中性立场，而不是更明确的买入或卖出。实质上，相较于其修正后的盈利展望和当前指引，该股票似乎被合理定价，因此他维持持有推荐。</p>
</div><p>In another report released on December 18, Truist Financial also maintained a Hold rating on the stock with a $107.00 price target.</p>
<div class="lb-trans"><p>在 12 月 18 日发布的另一份报告中，Truist Financial 也对该股票维持持有评级，目标价为 107.00 美元。</p>
</div>

美敦力：由于每股收益指引一致且利息成本上升，估值合理，维持持有评级