Boston Scientific price target raised to $73 from $63 at Deutsche Bank

Deutsche Bank analyst Pito Chickering raised the firm’s price target on Boston Scientific to $73 from $63 and keeps a Hold rating on the shares. Boston Scientific posted Q1 organic revenue growth of 13%, which “blew past” consensus calling for 8% growth, reflecting broad-based strength across the portfolio and geographies with Farapulse/PFA and Watchman/LAAO the “two notable star performers,” the analyst tells investors. The firm is increasing its target multiple, which it believes is justified as early adoption of Farapulse is “proving to be robust” and combining this with Watchman “should drive the top line for the foreseeable future.”