Jefferies analyst Matthew Taylor maintained a Buy rating on Boston Scientific (BSX – Research Report) yesterday and set a price target of $120.00.
Matthew Taylor has given his Buy rating due to a combination of factors including the strong growth trajectory of Boston Scientific’s WATCHMAN device, which is expected to see a year-over-year sales increase of approximately 19.3% in the first quarter. This growth is supported by robust underlying fundamentals and favorable market conditions, as evidenced by recent trends in the cardiovascular sector.
Furthermore, Boston Scientific’s strategic initiatives, such as its category leadership approach and pipeline development, are anticipated to drive long-term growth. The company’s ability to navigate tariff pressures and foreign exchange headwinds, similar to its peers, further strengthens its position. Taylor also highlights the potential for additional growth from the PFA and WATCHMAN products, alongside promising developments like the CHAMPION study, which could enhance future performance.
In another report released on April 21, TD Cowen also maintained a Buy rating on the stock with a $115.00 price target.
BSX’s price has also changed slightly for the past six months – from $88.010 to $95.050, which is a 8.00% increase.