Goldman Sachs Upgrades Boston Scientific (BSX) to Neutral

Goldman Sachs upgraded Boston Scientific (NYSE: BSX) from Sell to Neutral with a price target of $13.00 (from $11.00).

Analyst David H. Roman said, "We upgrade shares of Boston Scientific (BSX) to Neutral from Sell, given what looks to be higher sustainable growth and more attractive valuation. Our thesis had been that organic top-line growth would be pressured given core end-market weakness and a slower ramp in pipeline products. We had been explicit that 3Q was a pivotal quarter for the stock and our views, as comps become harder, putting a greater onus on execution. The performance registered in 3Q and the forward outlook indicate a turn for the better. Since being added to the Americas Sell List (December 14, 2011), BSX is +140% vs. the S&P500 +59%. LTM, BSX is flat vs. the S&P500 +10%."

For an analyst ratings summary and ratings history on Boston Scientific click here. For more ratings news on Boston Scientific click here.

Shares of Boston Scientific closed at $12.32 yesterday.

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