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Fly News Breaks for June 12, 2018
SYK, BSX
Jun 12, 2018 | 07:17 EDT
Following a Wall Street Journal report that Stryker (SYK) is pursuing an acquisition of Boston Scientific (BSX), Stephens analyst Chris Cooley said his thesis has always acknowledged that the company represents the most attractive large-cap medtech growth asset. He believes Boston Scientific "could readily command" a change of control premium of $37 to $40 per share, Cooley tells investors. He maintains an Overweight rating and $34 price target on Boston Scientific, which closed yesterday at $34.32 following an over 7% advance.