Raymond James downgraded Boston Scientific (BSX) to Outperform from Strong Buy with a price target of $88, down from $97. The firm reduced estimates below consensus to reflect slower trends in Boston Scientific’s “key growth areas.” While the CHAMPION results this weekend are a positive, growth concerns will “temper enthusiasm in the stock,” the analyst tells investors in a research note. Raymond James cites concerns over the company’s revenue growth for the downgrade.
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