A deal between Stryker (SYK) and Boston Scientific (BSX) "makes strategic sense" on the surface, as it would bring vibrant "hospital infrastructure" and "interventional implantable" franchises under one roof with little overlap, SunTrust analyst Bruce Nudell told investors in a research note following a report from The Wall Street Journal that said Stryker has made a takeover approach to Boston Scientific. Given the scale of both companies, Nudell said there would "undoubtedly" be major synergy opportunities that could help offset the premium likely required. Nudell has Buy ratings on both Stryker and Boston Scientific shares.

Stifel raised the firm's price target on Boston Scientific to $83 from $70 and keeps a Buy rating on the shares. The firm said the company delivered "solid" Q1 outperformance, underpinned by "important" new product launches. Looking ahead to 2024 and beyond, Stifel believes Boston Scientific could continue outperforming their Loan Repayment Program and the firm's projections.

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