UPDATE: Stifel Nicolaus Raises PT to $6.51 on Boston Scientific Corporation S-ICD Checks
Stifel Nicolaus reiterated Boston Scientific Corporation (NYSE: BSX) at Buy and increased the price target from $6.50 to $7.00.
Stifel Nicolaus noted, "Our recent physician checks with U.S. and EU electrophysiologists (EPs) reinforce our thesis that ultimately S-ICDs could represent 10% or more of overall ICD implants over time, if ongoing registry trials continue to suggest comparable performance versus traditional ICDs. We suspect this 10% penetration is greater than generally expected. These checks also reinforced our view that the S-ICD could potentially help re-invigorate BSX's beleaguered ICD franchise (~19% of 2012 estimated sales)."
Boston Scientific Corporation closed at $6.51 on Tuesday.
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