Bank of America Maintains Neutral Rating and $8.50 PT on Boston Scientific

A report from Bank of America reiterates its Neutral rating and $8.50 price target on Boston Sci.

. The report states, “BSX announced the much anticipated FDA approval and immediate launch of its Promus Element (PE) stent tonight. The approval is important for two main reasons: first, PE is the most important driver of incremental profitability for BSX over the next 18 months and second, this approval suggests the FDA is not overly concerned with the longitudinal stent compression (

) issue that surfaced around the recent TCT conference.” BSX closed yesterday at $5.31.