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UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Boston Scientific Corporation

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In a report published Monday, J.P. Morgan reiterated its Neutral rating on Boston Scientific Corporation (NYSE: BSX), and slightly raised its price target from $6.50 to $7.00.

J.P. Morgan noted, “While we see no easy fixes to Boston's challenges, there are strategic options that we believe could be implemented to create value for shareholders. Arguably the easiest and most immediate of these would be for the Board to authorize a substantial dividend. Value could also be unlocked by separating the company's growth assets (Endoscopy, Urology, and Neuro) from its Cardiovascular franchises. With CEO Mike Mahoney now settling into his new role following a protracted leadership transition, we will be looking for signs that management is receptive to these types of measures. In the meantime, with upside from current levels limited, in our view, we rate BSX shares Neutral.”

Boston Scientific Corporation closed on Friday at $6.86.

Latest Ratings for BSX

DateFirmActionFromTo
Oct 2014Goldman SachsUpgradesSellNeutral
Oct 2014BenchmarkUpgradesHoldBuy
Sep 2014NeedhamInitiates Coverage onHold

View More Analyst Ratings for BSX
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Price Target Analyst Ratings

 

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