UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Boston Scientific Corporation on Accelerating Growth
In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Boston Scientific Corporation (NYSE: BSX), and slightly raised its price target from $6.70 to $7.20.
Deutsche Bank noted, “Accelerating growth seems more credible now, but it's about execution. Boston Scientific held its last investor meeting in the fall of 2010. Then, as now, the company targeted accelerating top line growth. With several acquisitions and restructuring, we believe the company is in better financial shape today though there's still a significant amount of risk on executing on the pipeline and with the core markets remaining stable. We left the analyst meeting more optimistic on the outlook and are raising our price target. However, given the stock's recent move (up 32.5% YTD) and current price, we maintain our Hold rating.”
Boston Scientific Corporation closed on Tuesday at $7.59.
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