Boston Scientific initiated with a Buy at UBS

In a sector note on U.S. Medical Supplies and Devices, UBS analyst Danielle Antalffy initiated coverage of Boston Scientific with a Buy rating and $57 price target. UBS sees a clear path to upside on solid execution of Boston Scientific products in 2024 and beyond as WATCHMAN secures indication expansion and both FARAPULSE and ACURATE neo2 secure U.S. approval, the analyst tells investors in a research note. Boston Scientific is well-positioned to sustain above-market sales growth and deliver in line with to slightly better results over the next 12 months with increasing visibility into longer-term upside potential, and UBS thinks the stock will re- rate higher.