Analyst Upgrades: Medtronic, Ross Stores & Northrop Grumman Investment Opportunities

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By Maxwell Reed

Amidst ongoing market evaluations, several companies are drawing positive attention from financial analysts, suggesting potential investment opportunities based on revised outlooks and strategic developments. Upgrades and raised price targets often signal growing confidence in a company’s near-term prospects and long-term strategy.

Medtronic (MDT) Gains Analyst Confidence

Medical technology firm Medtronic has emerged as a noteworthy stock, highlighted by Piper Sandler and receiving a significant upgrade from Citi analyst Joanne Wuensch. Wuensch shifted her rating from Neutral to Buy, concurrently raising the price target substantially from $92 to $107. This represents a potential upside of nearly 30% from previous closing levels. This positive revision anticipates the company’s upcoming fiscal year 2026 guidance, expected in May. Analysts foresee key growth drivers, such as advancements in renal denervation, gaining considerable momentum. The stock has already seen modest gains in 2025, reflecting some existing positive sentiment.

Ross Stores (ROST): A Defensive Retail Play?

Discount retailer Ross Stores is another company flagged by Piper Sandler, particularly noted for its defensive characteristics in the current economic climate. This view was supported by Wells Fargo’s Ike Boruchow, who recently upgraded the stock to Overweight. Boruchow cited valuation support and factors that could enable ROST to exceed current market projections, lifting the price target from $140 to $150 per share. Although the stock has experienced a decline year-to-date, its positioning as a value retailer makes it an attractive defensive option for investors navigating macroeconomic uncertainty. Read more about defensive stock picks.

Northrop Grumman (NOC) Lifted by Defense Priorities

Defense contractor Northrop Grumman, which has enjoyed significant share price appreciation of around 15% in 2025, received a positive reassessment from RBC Capital Markets in March. Analyst Ken Herbert upgraded NOC to Outperform, largely driven by progress on the crucial B-21 Raider bomber program being developed for the U.S. Air Force. Herbert anticipates that positive sentiment surrounding the company can persist, supported by the B-21’s performance milestones and an improving perception relative to industry peers. Reflecting this optimism, RBC raised its price target for NOC significantly, from $500 to $575, suggesting further potential upside. Changes in Department of Defense (DoD) priorities appear to be benefiting the company’s strategic positioning.

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