Boston Scientific, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Danielle Antalffy from UBS maintained a Buy rating on the stock and has a $135.00 price target.
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Danielle Antalffy has given her Buy rating due to a combination of factors that suggest strong future performance for Boston Scientific. The company has updated its long-term organic sales growth guidance to over 10%, which aligns with both analyst and investor expectations. This target is viewed as achievable, considering the company’s historical ability to surpass expectations, particularly in the electrophysiology business, which plays a crucial role in this growth projection.
Additionally, Boston Scientific has reiterated its commitment to expanding its adjusted operating margins by approximately 50 basis points annually, aiming for a 30% margin by the end of 2024. The company also anticipates double-digit year-over-year growth in adjusted EPS and a free cash flow conversion rate of 70-80% over the long-term plan, which exceeds previous goals. These financial targets underscore the company’s robust operational strategy and potential for sustained profitability.
According to TipRanks, Antalffy is a 3-star analyst with an average return of 2.7% and a 52.00% success rate. Antalffy covers the Healthcare sector, focusing on stocks such as Boston Scientific, Abbott Laboratories, and Dexcom.
In another report released yesterday, Citi also reiterated a Buy rating on the stock with a $125.00 price target.