After Boston Scientific (BSX) announced a deal to acquire Apollo Endosurgery (APEN) for a $10 per share in cash, or about $615M inenterprise value, Piper Sandler analyst Matt O’Brien said Apollo fits into Boston’s Endoscopy business and will help the company expand their global endoluminal surgery, or ELS, franchise. Though Boston Scientific’s margins and EPS may be pressured next year, he believes "the top-line will carry the name in the coming quarters" and continues to view it as his favorite diversified, large cap name, said O’Brien, who reiterates his Overweight rating and $50 price target on Boston Scientific shares.
Published first on TheFly
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