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BSX

Boston Scientific

$26.39

-2.12 (-7.44%)

06:24
11/29/17
11/29
06:24
11/29/17
06:24

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.

  • 01

    Dec

  • 14

    Dec

BSX Boston Scientific
$26.39

-2.12 (-7.44%)

10/24/17
10/24/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Boston Scientific (BSX) initiated with a Buy at Canaccord. 2. PQ Group (PQG) was initiated with a Buy at Nomura Instinet, Jefferies, Deutsche Bank, and Citi, an Overweight at KeyBanc, and a Neutral at JPMorgan and Goldman Sachs. 3. Tronox (TROX) initiated with an Overweight at JPMorgan. 4. Equinix (EQIX) initiated with a Buy at Deutsche Bank. 5. BioTelemetry (BEAT) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/17
SBSH
11/28/17
NO CHANGE
Target $34
SBSH
Buy
Citi concerned after Boston Scientific cancels conference presentation
Citi analyst Amit Hazan says he's "unambiguously concerned" about the status of Boston Scientific's Lotus TAVR valve after the company cancelled its presentation at a conference scheduled for today. Boston Scientific confirmed the cancellation with the analyst and noted it would still be appearing at Citi's conference next week. Hazan asked the company if today's cancellation is related to the Lotus TAVR valve and has not heard back. It is now "very fair" to ascribe a higher risk to Lotus timelines, Hazan tells investors in a research note. He views Boston Scientific's lack of response to his question as a "non-denial denial." The analyst notes that he'd value Boston Scientific shares at $27-$28 if Lotus were to be taken completely out of his model. The market is already basically pricing in the elimination of Lotus, Hazan contends. He has a Buy rating on Boston Scientific with a $34 price target. The stock in afternoon trading is down 6% to $26.92.
11/28/17
WELS
11/28/17
NO CHANGE
WELS
Boston Scientific weakness a buying opportunity, says Wells Fargo
11/28/17
WELS
11/28/17
NO CHANGE
WELS
Outperform
Amid Boston Scientific slide, Wells Fargo finds no new issues with Lotus
Wells Fargo analyst Larry Biegelsen notes that weakness in shares of Boston Scientific followed the company having canceled an investor conference appearance, pointing out that the last time this happened the company then announced a recall of its Lotus TAVR device in Europe. While he attributes the pullback to investor worries about "another shoe to drop," his checks have found no new issues with Lotus, Biegelsen tells investors. Even assuming Lotus revenues were completely removed, he sees a floor for Boston Scientific at $26-$27 per share. Biegelsen maintains an Outperform rating on Boston Scientific, which is down nearly 6% to $26.86 in afternoon trading.

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ORCL

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ORCL

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ORCL

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