Goldman Sachs Downgrades Boston Scientific (BSX) to Sell

Goldman Sachs downgraded Boston Scientific (NYSE: BSX) from Neutral to Sell with a price target of $4.90 (down from $5.80), suggesting 8.1% downside.

The firm also lowered 2012-2014E EPS estimates given lower outer year sales growth and higher SG&A expense.

Goldman sees Street estimates as 14.3% too high.

The company's end markets have taken another step lower, especially in US ICDs, Goldman notes. They now see the risk/reward as skewed to the downside.

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 $5.13 yesterday.

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