<p>威廉·布萊爾分析師布蘭登·瓦茲奎茲在 12 月 18 日對 MDT 股票維持中性立場，給予持有評級。</p>
<p>布蘭登·瓦茲奎茲給予持有評級的原因主要是基於他更新的財務模型，而非美敦力基本面展望的變化。他保持了收入預測不變，表明他目前沒有看到能夠推動更強勁的收入增長的催化劑。同時，他將利息支出假設上調，以更好地與管理層的指示相匹配，這導致他的每股收益展望略微下調。這些更新後的每股收益預測現在與公司的非 GAAP 指引緊密相關，暗示與市場上已經反映的預期相比，短期內的上行空間有限。</p>
<p>鑑於他的預測與管理層的目標大致一致，瓦茲奎茲似乎認為風險/回報特徵是平衡的，而不是偏向顯著的上行或下行。收入展望沒有實質性變化，加上因利息成本上升帶來的輕微盈利壓力，支持了中性立場，而不是更明確的買入或賣出。實質上，相較於其修正後的盈利展望和當前指引，該股票似乎被合理定價，因此他維持持有推薦。</p>
<p>在 12 月 18 日發佈的另一份報告中，Truist Financial 也對該股票維持持有評級，目標價為 107.00 美元。</p>

美敦力

<p>威廉·布萊爾分析師布蘭登·瓦茲奎茲對美敦力（Medtronic，股票代碼：MDT）維持持有評級，理由是每股收益指引一致以及更高的利息成本。瓦茲奎茲更新的財務模型反映出短期內上漲空間有限，收入預測保持不變，利息支出假設上調。Truist Financial 也維持持有評級，目標價為 107 美元，表明該股票相對於其收益前景和當前指引被合理定價</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·布萊爾分析師布蘭登·瓦茲奎茲在 12 月 18 日對 MDT 股票維持中性立場，給予持有評級。</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>布蘭登·瓦茲奎茲給予持有評級的原因主要是基於他更新的財務模型，而非美敦力基本面展望的變化。他保持了收入預測不變，表明他目前沒有看到能夠推動更強勁的收入增長的催化劑。同時，他將利息支出假設上調，以更好地與管理層的指示相匹配，這導致他的每股收益展望略微下調。這些更新後的每股收益預測現在與公司的非 GAAP 指引緊密相關，暗示與市場上已經反映的預期相比，短期內的上行空間有限。</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>鑑於他的預測與管理層的目標大致一致，瓦茲奎茲似乎認為風險/回報特徵是平衡的，而不是偏向顯著的上行或下行。收入展望沒有實質性變化，加上因利息成本上升帶來的輕微盈利壓力，支持了中性立場，而不是更明確的買入或賣出。實質上，相較於其修正後的盈利展望和當前指引，該股票似乎被合理定價，因此他維持持有推薦。</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 日發佈的另一份報告中，Truist Financial 也對該股票維持持有評級，目標價為 107.00 美元。</p>
</div>

美敦力：由於每股收益指引一致且利息成本上升，估值合理，維持持有評級