Wells Fargo Cuts Valuation Range on Boston Scientific (BSX), Sees Limited Sales Growth

Wells Fargo is maintaining its Market Perform rating on shares of Boston Scientific (NYSE: BSX), while lowering its valuation range from $6-$7 to $5-$6.

The firm reports it has adjusted its growth and earnings model on BSX considering the $0.14 in one-time benefits the company received through the third quarter.

Wells Fargo is reaffirming its FY11 EPS estimate of $0.69, but is reducing its FY12 estimate from $0.79 to $0.70. The firm also lowered its FY12 sales estimate by $19 million to $7.704 billion.

The company's sales growth over the next few years will be limited due to the growing number of headwinds in its DES and CRM businesses, notes a Wells Fargo analyst.

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 $5.34 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
• Vivos Therapeutics posts 35% revenue gain but widens net loss
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15