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.
Published first on TheFly
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