Kaufman Bros. Starts Boston Scientific (BSX) at Hold; Progress Made, But Remains a Turnaround, with Tough Growth Outlook

Kaufman Bros. initiates coverage on Boston Scientific (NYSE: BSX) with a Hold. PT $7.00.

Kaufman analyst says, "In a generally more risk averse healthcare investment community, multiple business challenges that are specific to Boston Scientific – as it remains in a turnaround - add to the uncertainty, keeping us at bay. This is despite the company's 1) firmer low-double digit EPS growth outlook, driven mainly by ongoing restructuring programs, which we look for to be sustained; 2) with "sticky" revenue and earnings upside from Johnson & Johnson's (NYSE: JNJ) DES market withdrawal likely to take a few quarters to materialize given two other -olimus market participants that will vie for share and ensuing physician trialing; and 3) fresh perspective under new CEO Michael Mahoney, who officially takes the helm on November 1, 2012 (joins as President on October 17, 2011)."

For more ratings news on Boston Scientific click here and for the rating history of Boston Scientific click here.

Shares of Boston Scientific closed at $5.93 yesterday.

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