UPDATE: Stifel Nicolaus Initiates Boston Scientific Corporation at Buy on Steady Progress

Stifel Nicolaus initiated coverage on Boston Scientific Corporation (NYSE: BSX) with a Buy rating and a $6.50 price target.

Stifel Nicolaus commented, "We see BSX as poised for more attractive growth, operating and financial performance in the years ahead. Following an extended period of relative underperformance, we think this long-term turnaround story with still-depressed sales growth and profitability could be approaching a return to more sustainable low-single-digit top-line growth in 2014 and beyond, driving a more positive sentiment on the shares."

Boston Scientific CorporationStifel Nicolaus closed at $5.14 on Monday.

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