Functional Brands closes $8 million private placement and completes Nasdaq listing
Investing.com - Goldman Sachs has raised its price target on Boston Scientific (NYSE:BSX) to $124.00 from $120.00 while maintaining a Buy rating on the medical device maker’s stock. The company, currently trading at $103.84 with a market capitalization of $153.8 billion, has demonstrated impressive revenue growth of 21.4% over the last twelve months.
The investment bank cited Boston Scientific’s strong positioning to deliver sales and earnings per share growth above the average rates of its large-cap medical technology peers.
Goldman Sachs’ updated model includes projected organic growth rates of 15.9% in 2025, followed by 11.5% in 2026, 10.3% in 2027, and 10.0% in 2028.
The firm noted further upside potential exists beyond these projections, specifically mentioning that its current estimates do not include potential contributions from renal denervation and the CHAMPION program.
Goldman Sachs reiterated its Buy rating on Boston Scientific shares while implementing the $4 increase to its 12-month price target.
In other recent news, Boston Scientific reported a robust third-quarter performance, with revenue reaching $5.065 billion. This marks a reported growth of 20.3% and an organic growth of 15.3%, surpassing consensus estimates of $4.969 billion. The company also posted adjusted earnings per share of $0.75, exceeding the consensus estimate of $0.71. Stifel reiterated its Buy rating for Boston Scientific, maintaining a price target of $125, citing confidence in the company’s growth outlook through 2028. BTIG also maintained its Buy rating, setting a price target of $132 following the strong earnings report. Additionally, Evercore ISI raised its price target to $113 from $110, while maintaining an Outperform rating. Evercore ISI highlighted Boston Scientific’s strong performance across multiple business segments and addressed investor concerns about potential share losses in the electrophysiology segment. These developments reflect a positive sentiment among analysts regarding Boston Scientific’s future prospects.
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