Boston Scientific (BSX) stock traded at its 14-year high on September 13. The company has been witnessing a bull run over the last year, driven by its strong financial performance, launches, approvals, and a strong inorganic growth strategy.
On September 6, Boston Scientific announced the acquisition of Augmenix, as we discussed in the previous article. The company has announced nine acquisitions in 2018 to date. In this article, we’ll look at Boston Scientific’s recent recommendations and 12-month target prices from Wall Street analysts.
On September 14, Reuters surveyed 24 analysts covering BSX stock. Of these analysts, 21 (~87.5%) analysts gave a “buy” or “strong buy” recommendation on the stock. The remaining three analysts gave a “hold” recommendation on BSX stock. None of the analysts gave a “sell” recommendation on Boston Scientific.
On September 14, Boston Scientific had a consensus 12-month target price of $39.14 per share. This target price represents a 12-month return potential of ~4.0% based on the stock’s closing price of $37.62 on September 13.
Analysts’ recommendation revisions and updates
On September 7, Needham raised its target price on BSX stock from $39 to $43 while maintaining its “strong buy” recommendation on the stock. On September 4, Jefferies upgraded its recommendation on BSX stock from”hold” to “buy.” The brokerage now has a price target of $42 on the stock, up from the previous target of $34.
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