Argus Upgrades Boston Scientific (BSX) to Buy
- Dollar lower, stocks flat as caution creeps in ahead of Trump inauguration
- General Electric (GE) Reports In-Line Q4 EPS
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Argus upgraded Boston Scientific (NYSE: BSX) from Hold to Buy with a price target of $33.00.
The analyst noted strong sales in 2Q16, with growth of more than 10% in five product segments. In addition, the company is gaining share in the pacing market thanks to its recently launched MRI-compatible pacemaker.
The firm is raising adjusted EPS estimates to $1.11 from $1.08 for 2016 and to $1.27 from $1.20 for 2017.
Despite shares trading at 19.1x 2017 versus 18.8x for the coverage universe, the analyst views valuation is attractive given the company's strong growth prospects.
Shares of Boston Scientific closed at $23.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Upgrades Checkpoint Software (CHKP) to Overweight
- Deutsche Bank Upgrades Basic Energy Services (BAS) to Buy
- JPMorgan Upgrades Fomento Economico Mexicano (FMX) to Neutral
Create E-mail Alert Related CategoriesUpgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!