Citi Reiterates Buy rating for Boston Scientific (BSX)

Boston Scientific Corp. (NYSE:BSX) is one of the 7 oversold stocks to buy with double-digit ROE growth.

On April 7, Joanne Wuensch from Citi reduced the price target on Boston Scientific Corp. (NYSE:BSX) from $98 to $87 while maintaining a Buy rating on the stock. This implies an adjusted upside potential of more than 40% despite the downward revision in price target.

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Joanne noted that the medical technology segment is currently facing several compressions because of the uncertainties involved. Consequently, as part of the first quarter earnings preview, the firm revised its estimates across the group.

On March 30, Boston Scientific Corp. (NYSE:BSX) and Penumbra Inc. (NYSE:PEN) announced an updated regulatory timeline concerning their proposed corporate merger. Previously, both organizations submitted initial notification documents to both the FTC and the DOJ under the HSR Act on February 13.

The intervention prolongs the mandatory waiting period until 30 days after the organizations substantially satisfy all compliance demands, unless the parties voluntarily extend the timeline or regulators finish the evaluation early. Executive leadership expects to respond promptly while actively cooperating with federal authorities.

Boston Scientific Corp. (NYSE:BSX) specializes in medical devices for interventional specialties such as cardiovascular, endo-surgery, and neuro-modulation. The company operates through MedSurg and Cardiovascular segments, and offers a range of devices, including biliary stent systems, electrocautery enhanced delivery systems, direct visualization systems, and single-use duodeno-scopes.

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