Travis Steed, an analyst from Bank of America Securities, maintained the Buy rating on Boston Scientific (BSX – Research Report). The associated price target remains the same with $115.00.
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Travis Steed has given his Buy rating due to a combination of factors that suggest Boston Scientific’s potential for growth despite recent challenges. The company announced the discontinuation of its ACURATE neo2 and ACURATE Prime products, which were expected to generate significant revenue primarily in Europe. However, this decision is anticipated to have a minimal impact on the company’s overall growth trajectory.
Boston Scientific is poised to offset the revenue loss from the discontinuation through other promising growth drivers, such as IVL and RDN, which are not yet reflected in the current financial model. The company remains confident in meeting its previously issued sales and earnings guidance for the coming years. This resilience, along with the potential for margin improvement, supports the Buy rating, as the company is expected to maintain its growth momentum and achieve its financial objectives.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $115.00 price target.
BSX’s price has also changed moderately for the past six months – from $90.750 to $104.510, which is a 15.16% increase.
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