Citigroup raised its rating on Boston Scientific BSX from Neutral to Buy and increased its price target from $5.30 to $7.30.
Citigroup commented, "While difficult comparisons for BSX were expected to moderate starting in 2Q13, organic growth still looked modest through 2014 until the company's pipeline efforts begin to start making a difference. Hence, we don't believe the recent move in BSX's stock is accurately reflecting the potential benefit from a Durata withdrawal and our new target price now represents 31% upside."
Boston Scientific closed at $5.59 on Friday.
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