Piper remains bullish on Boston Scientific, says guidance likely conservative

Piper Sandler analyst Matt O’Brien notes that Boston Scientific reported Q4 results that beat expectations on the top- and bottom lines when adjusting for an unexpected revenue reserve the company took. The cardiology franchise remains strong and urology continues to exceed expectations as well, the firm says. Piper also notes that management provided 2023 revenue and EPS guidance that was right in-line with the Street, but it suspects they are being conservative with their outlook given the strong, broad-based momentum in the business. In aggregate, Boston Scientific remains a high-quality growth asset and the firm’s favorite diversified large cap. Piper has an Overweight rating on the shares with a price target of $50.