UPDATE: Credit Suisse Upgrades Boston Scientific to Outperform on Improving Top-Line
Credit Suisse upgraded Boston Scientific (NYSE: BSX) from Neutral to Outperform and raised the price target from $6.00 to $7.50.
Credit Suisse noted, ": We're upgrading BSX to Outperform from Neutral given increased visibility into meaningful top-line improvement. We forecast 4% WW CC growth for BSX in 2014 (4% CAGR 2013-17), a significant uptick relative to low-to-mid single digit declines 2010-13. We see the acceleration driven by key pipeline areas with Asthmatx, S-ICD, left atrial appendage closure, TAVI, renal denervation & DBS growing at a combined 57% CAGR 2013-17 to ~13% of BSX' 2017 sales (up from <1% currently)."
Boston Scientific closed at $6.32 on Monday.
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