Boston Scientific's 'Next Level' Long-Term Plans: Why 2 Analysts Boost Price Targets
Portfolio Pulse from Vandana Singh
Boston Scientific Corporation (BSX) CEO Mike Mahoney outlined the company's long-term plans at the 2023 Investor Day event. Mizuho Securities maintained its Neutral rating for BSX and raised the price target from $56 to $60. Needham gave the company a Buy rating and raised the price target from $61 to $65. The company's optimistic outlook is underpinned by the rapid expansion of the Pulsed Field Ablation (PFA) category, projected to capture 60% of the market share by 2026. The company also expects growth in the Left Atrial Appendage (LAA) market and the global Transcatheter Aortic Valve Replacement (TAVR) market.
September 21, 2023 | 4:52 pm
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POSITIVE IMPACT
Boston Scientific's long-term plans and optimistic outlook have led to raised price targets from Mizuho Securities and Needham. The company's growth is expected to be driven by the expansion of the PFA category and growth in the LAA and TAVR markets.
The raised price targets from Mizuho Securities and Needham indicate a positive outlook for Boston Scientific. The company's plans for expansion in the PFA, LAA, and TAVR markets are expected to drive growth, which could lead to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100