Boston Scientific selloff yesterday a buying opportunity, says JPMorgan
Boston Scientific last night confirmed speculation by announcing additional delays to its Lotus transcatheter valve program, JPMorgan analyst Michael Weinstein tells investors in a research note. The good news is that the delay is internally driven, the analyst notes after speaking to management. He points out that there are no issues at this point with the European notified body or with the FDA. The issue is manufacturing, Weinstein writes. The analyst is a buyer of Boston Scientific following yesterday's selloff. Despite the Lotus delay, he still thinks the company can grow organic sales by 6% in 2018 and 7%-8% in 2019-2020. Weinstein keeps an Overweight rating on Boston Scientific with a $31 price target.