TD Cowen on Boston Scientific (BSX): 'Today's Portfolio Review Should Reinvigorate the Bull Case'

TD Cowen analyst Joshua Jennings reiterated a Buy rating and $115.00 price target on Boston Scientific (NYSE: BSX).

The analyst commented: "Investor Day Fulfills Lofty Expectations; Guidance Reiteration Signals Solid Q3; BSX's new LRP features a 10%-plus organic sales growth CAGR, 50 bps of annual op margin expansion and strong DD EPS growth. These metrics match our and BSX's ambitious targets going into today's event and should help sustain the bullish argument for the stock. BSX additionally reiterated its 2025 guidance, which suggests in-line or better Q3 results, also matching our expectations.

Today's Portfolio Review Should Reinvigorate the Bull Case for the Stock: Starting on page 3, we provide the key takeaways from today's presentations for each of the eight business lines, comprising Neuromod, Urology and Endoscopy in MedSurg, and PI/IO&E, ICTx, CRM, Watchman and electrophysiology in Cardiovascular. Of note, BSX spoke confidently about its outlook in PFA and EP despite increasing competition as rival PFA systems launch. On Watchman, the company previewed its Champion trial, due to read out in H1'26 and about which we have written extensively, and fleshed out its next-generation LAAC platform, suitably named NG Watchman. BSX also highlighted several longer-term drivers that it is investing in now that should fuel growth beyond the latest LRP period. These include the Vitalyst circulatory support device and mitral and tricuspid valve repair and replacement technology, all in development in ICTx and which address opportunities with multi-billion-dollar TAMs."

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 $97.63 yesterday.

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