Boston Scientific price target raised to $62 from $58 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Boston Scientific to $62 from $58 and keeps an Overweight rating on the shares following an analysis of the company’s drug-coated balloon technology. The analyst expects Boston Scientific to get approval for Agent DCB in the U.S. early 2024 and that the clinical community will “rapidly adopt” the technology considering the U.S. lags other geographies by nearly a decade. Competitors are primarily small private companies years behind Boston Scientific in clinical development, indicating that the company should benefit from this domestic monopoly for the next couple of years, says Piper.