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Fly News Breaks for March 19, 2018
BSX
Mar 19, 2018 | 08:12 EDT
Morgan Stanley analyst David Lewis raised his price target on Boston Scientific to $33 and kept his Overweight rating, citing the company's outperforming growth profile and balance sheet flexibility. Lewis says the company can sustain a 6%-7% organic expansion with its pipeline and a shift to higher growth end markets, which are ineffectively reflected in valuation. The analyst adds that while the selloff was driven by concerns around Lotus Edge, the product is "more of a call option" based on the company's core performance.
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