It Is the Same Old Story at Boston Scientific (BSX)

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Jefferies maintained a Hold rating on Boston Scientific (NYSE: BSX) and raised its price target to $6.00 (from $5.00).

"At its core, the BSX investment story remains the same: weak end markets and completion in the two largest divisions are sapping growth and cost reductions and restructuring remain double edged as they prop up earnings but also threaten the company’s ability to pull itself out of the dive. These trends were all on display in 3Q," said analyst Raj Denhoy.

His $6 target is based on the current 12x average 2013 multiple of the large cap medtech peers rolled forward to Boston's 2014 EPS.

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 $5.40 yesterday, with a 52 week range of $4.79-$6.41.

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