UPDATE: Stifel Nicolaus Raises PT on Boston Scientific Following HRS Meeting, Management Q&A
In a report published Thursday, Stifel Nicolaus analyst Rick Wise reiterated a Buy rating on Boston Scientific Corporation (NYSE: BSX), and raised the price target from $9.00 to $11.00.
In the report, Wise noted, “While BSX shares are up 78% in the last 6 months and 59% YTD, we see room for additional upside from here as BSX's turnaround unfolds. Coming out of last week's Heart Rhythm Society (HRS) meeting in Denver and yesterday's BSX management Q&A at a competitor conference, we are increasingly comfortable that (1) the CRM division's (~28% of BSX's sales) performance is now poised to improve, (2) new products collectively--- the S-ICD, Watchman, Rhythmia, Lotus, Vessix, Alair-- will be substantial contributors, as soon as 2014, (3) BSX remains on track to return to flat-to-positive sales growth in 2H13, and 4) there is substantial operating margin expansion potential ahead, as revenue growth accelerates.”
Boston Scientific Corporation closed on Wednesday at $9.10.
Latest Ratings for BSX
|Jun 2016||Guggenheim Securities||Initiates Coverage on||Buy|
|May 2016||BTIG Research||Downgrades||Buy||Neutral|
|Mar 2016||Nomura||Initiates Coverage on||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.