Boston Scientific Corporation (BSX) Rated as a ‘Buy’ at Needham on IVL Market Opportunity

Boston Scientific Corporation (NYSE:BSX) is one of the best beginner stocks to buy, according to analysts. On September 11, analysts at Needham reiterated a ‘Buy’ rating on the stock and a $121 price target. The positive stance comes as the company plans to launch Bolt’s laser-based intravascular lithotripsy (IVL) system for peripheral use in late 2025.

Boston Scientific Corporation (BSX) Rated as a ‘Buy’ at Needham on IVL Market Opportunity

Image: Courtesy of Boston Scientific

The company has already commenced enrollment for a fracture study to evaluate the clinical use of the IVL technology. The study comes as Boston Scientific seeks to capitalize on an $8.5 billion opportunity in the IVL market.

The Bolt system offers better deliverability, more pulses, and more reliable targeted acoustic treatment than Shockwave Medical’s IVL system. Consequently, the Peripheral Interventions and Interventional Cardiology product portfolios and sales forces should enable quick market share capture in the IVL segment.

The research firm believes the IVL technology could add 0.3% to Boston Scientific’s revenue growth and contribute 0.5% growth in EPS over the next five years.

Boston Scientific Corporation (NYSE:BSX) is a global medical technology company that develops and sells less-invasive medical devices to help diagnose and treat a wide range of conditions, thereby improving patient outcomes and reducing healthcare costs.

While we acknowledge the potential of Boston Scientific Corporation (NYSE:BSX) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BSX and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.