Truist lowered the firm’s price target on Boston Scientific to $59 from $61 and keeps a Buy rating on the shares as part of a broader research note on MedTech. The sector continues to trade down on fear of exposure to GLP-1s, and even good Q3 earnings may not matter amid a GLP-1 sector overhang, the analyst tells investors in a research note. While Truist continues to believe that the dramatic GLP1-driven sector pullback is likely overdone and that “narrative” is driving indiscriminate selling more so than a tangible fundamental impact, it’s hard to say when/if the GLP-1 overhang will subside.
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Read More on BSX:
- Boston Scientific put volume heavy and directionally bearish
- Boston Scientific price target raised to $60 from $59 at Barclays
- Boston Scientific EVP Fitzgerald sells 15,867 common shares
- Boston Scientific price target raised to $64 from $62 at BTIG
- Boston Scientific sees organic sales growth of 8%-10% over three-year period
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