Wedbush Raises Price Target on Boston Scientific (BSX) to $25 Following 2Q
Wedbush reiterated a Neutral rating on Boston Scientific (NYSE: BSX), and raised the price target to $25.00 (from $23.00), following the company's 2Q earnings report. Total sales were $2.126 billion, and $80 million ahead of consensus, while adjusted EPS of $0.27 was in line.
Analyst Tao Levy commented, "BSX delivered a robust quarter driven by an expanded product portfolio and a focus on higher growth segments that was initiated a few years ago; while we have a generally positive view of BSX’s franchises and management’s ability to execute, we believe much of this improved outlook is already priced in BSX’s share price, which are up 32% year-todate. As a result, we remain on the sidelines as the risk/reward appears fairly balanced in our opinion."
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Shares of Boston Scientific closed at $24.34 yesterday.