TD Cowen analyst Josh Jennings maintained a Buy rating on Boston Scientific today and set a price target of $115.00.
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Josh Jennings has given his Buy rating due to a combination of factors surrounding Boston Scientific’s ENDOTAK RELIANCE defibrillation leads. Despite the recent physician advisory letter highlighting potential calcification risks in older-generation leads, Jennings perceives the commercial risk as largely sentiment-driven and manageable, without expecting a significant impact on the ICD market.
Boston Scientific’s ENDOTAK RELIANCE series has been a pivotal part of their ICD lead portfolio for over a decade, showcasing significant advancements since its introduction. The series incorporated innovations such as the ePTFE coating, which was designed to enhance chronic performance and simplify lead extraction. These developments have contributed to widespread adoption and are seen as a testament to the company’s ability to evolve and maintain product efficacy over time.
Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Boston Scientific, and Ceribell, Inc.. According to TipRanks, Jennings has an average return of 1.6% and a 48.49% success rate on recommended stocks.
In another report released on August 4, Bank of America Securities also maintained a Buy rating on the stock with a $120.00 price target.