On Thursday, TD Cowen demonstrated a positive outlook on Boston Scientific Corporation (NYSE:BSX) by raising the price target on the company's shares to $77.00, up from the previous $65.00, while maintaining an Outperform rating. The adjustment follows encouraging remarks made by Boston Scientific at a recent conference.
Boston Scientific's 2024 and Long Range Plan (LRP) guidance received no qualifiers, indicating the company is on track to achieve its stated goals. This projection has reinforced the analyst's confidence in the firm's future performance.
A highlight from the conference that caught the analyst's attention was Boston Scientific's commentary on the combined use of its Farapulse and Watchman technologies. This combination is seen as a demonstration of Boston Scientific's commitment to maintaining and extending its competitive edge in the market.
The analyst expressed optimism about the company's strategic direction, stating, "This combination illustrates BSX's drive to extend its lead over peers and validates our bullish stance on its stock."
The price target increase to $77 reflects TD Cowen's belief in Boston Scientific's ability to continue its trajectory of growth and success in its industry segment. The firm's current strategies and product offerings are expected to contribute positively to its market position.
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