UPDATE: Citigroup Upgrades Boston Scientific to Buy on Durata Withdrawal Impact

Citigroup raised its rating on Boston Scientific

from Neutral to Buy and increased its price target from $5.30 to $7.30. Citigroup commented, "While difficult comparisons for BSX were expected to moderate starting in 2Q13, organic growth still looked modest through 2014 until the company's pipeline efforts begin to start making a difference. Hence, we don't believe the recent move in BSX's stock is accurately reflecting the potential benefit from a Durata withdrawal and our new target price now represents 31% upside." Boston Scientific closed at $5.59 on Friday.