Boston Scientific price target raised to $53 from $48 at Needham

Needham analyst Mike Matson raised the firm’s price target on Boston Scientific to $53 from $48 and keeps a Buy rating on the shares after its mixed Q4 results. An unplanned reserve in connection with a payback provision in Italy reduced Q4 revenue by $60M and EPS by 4c, and BSX would have beaten consensus without this, the analyst tells investors in a research note. The firm adds that the quarter supports its view that Boston Scientific is more insulated from macro headwinds and can sustain higher growth than most of its peers.