Josh Jennings, an analyst from TD Cowen, maintained the Buy rating on Boston Scientific. The associated price target remains the same with $115.00.
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Josh Jennings has given his Buy rating due to a combination of factors that suggest Boston Scientific is poised for strong performance. The company has reiterated its full-year sales and earnings guidance at its recent investor day, which indicates confidence in meeting or exceeding these targets. This move reduces the risk associated with the upcoming quarterly results and strengthens the belief that Boston Scientific will deliver solid performance.
Furthermore, the company’s guidance for the third quarter suggests robust revenue and earnings growth, with expectations of reported and organic revenue increases of 17-19% and 12-14%, respectively. Although Jennings’s estimates are slightly below the Street’s forecasts, he believes Boston Scientific can surpass both sets of predictions. Additionally, positive reports from industry peers further bolster confidence in Boston Scientific’s ability to achieve favorable outcomes.
Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Boston Scientific, and Medtronic. According to TipRanks, Jennings has an average return of 1.2% and a 46.99% success rate on recommended stocks.