Boston Scientific price target lowered to $120 from $140 at UBS

UBS lowered the firm’s price target on Boston Scientific (BSX) to $120 from $140 and keeps a Buy rating on the shares. Shares fell despite strong Q4 sales and EPS amid focus on a high-single-digit miss in U.S. electrophysiology and a low-single-digit miss in U.S. WATCHMAN, reinforcing concerns about a potential growth cliff in these key segments, the analyst tells investors in a research note. However, global EP share gains, continued solid WATCHMAN growth with potential reacceleration from upcoming CHAMPION data, and double-digit growth across the rest of the portfolio supported by a deep pipeline help underpin the longer-term growth outlook, UBS says.