Jefferies Maintains a 'Hold' on Boston Scientific (BSX); 3Q: Revenue Growth Remains Stubbornly Elusive

Jefferies maintains a 'Hold' on Boston Scientific (NYSE: BSX), drops price target from $7.00 to $6.50.

Jefferies analyst says, "BSX 3Q sales fell well short of expectations, but earnings beat largely on share buybacks and a lower tax rate. The ICD market showed further deterioration and visibility remains on recovery. The company continues to focus on cost saving and leverage initiatives that give an outline for better 2012 profits. However, pressures in the core markets continue to weigh upon revenue growth and likely the valuation multiple."

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 $5.39 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping drops bid for Genco after price demands spike to $36.91
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c