Boston Scientific (BSX) Analyst Day Preview - Wells Fargo
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Wells Fargo analyst Lawrence Biegelsen reiterated an Overweight rating and $52.00 price target on Boston Scientific (NYSE: BSX) ahead of the company's investor meeting on September 22.
The analyst commented "We expect the company to reiterate its long-term financial goals of 6-8% annual organic revenue growth and double-digit EPS growth (both ex-COVID). We also expect the company to highlight its late-stage pipeline including potentially a few new disclosures. Given the recent ABT Amulet US approval, BSX is likely to spend considerable time at the meeting discussing its plans to continue to grow the Watchman franchise. Lastly, we believe BSX will provide color commentary on Q3 2021 trends given that the COVID resurgence this quarter appears to be worse than the company assumed when the company guided on July 27.Overall, we expect the meeting to drive increased investor confidence in the company’s ability to grow sales and earnings at the high end of medtech."
Shares of Boston Scientific closed at $44.85 yesterday.
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