New York, July 24 (FinanceEnquiry.com) – Analyst Phillip Seligman at S&P CAPITAL IQ upgrades their ratings on Boston Scientific (NYSE: BSX) from SELL to HOLD. The 12-month target price is set to $5.50.
In a research note published yesterday, the analyst mentions that BSX is expected to report EPS of $0.10 against $0.12 at the time when it reports its Q2 results on July 26.
BSX has been facing continued weakness in defibrillators and drug eluting stents and pricing pressures. As the company experienced continued stabilization and easier comps were seen in US defibrillators market for 2012, one rival does not expect the cardiac rhythm management market, which includes defibrillators and pacemakers to stabilize until early 2013. In the meanwhile, BSX’s R&D, new products, cost cutting and emerging markets efforts have been favored, the analyst says.
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