Boston Scientific (BSX) PT Raised to $23.50 at Evercore ISI

Evercore ISI analyst Vijay Kumar raised estimates and his price target on Boston Scientific (NYSE: BSX) to $23.50 (from $21.50) due to market multiple expansion. The firm maintained a Buy rating.

FY16 EPS was raised from $1.06 to $1.11 mainly due to higher organic revenue growth (mainly from higher stents + structural heart) assumptions and lower OpEx (following an impressive 1Q performance); FY17 EPS was aised from $1.22 to $1.30 due to slightly higher revenues (increased confidence in Watchman) and higher operating margin expansion assumptions; FY18 EPS was raised from $1.44 to $1.50 due to sustainability of revenue growth (contribution from US launch of Lotus TAVR) and base effect (building off of higher base.

For an analyst ratings summary and ratings history on Boston Scientific click here. For more ratings news on Boston Scientific click here.

Shares of Boston Scientific closed at $19.69 yesterday.

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