Truist Cuts PT on Boston Scientific Corporation (BSX) to $90 From $92

Boston Scientific Corporation (NYSE:BSX) is one of the most oversold healthcare stocks to invest in. Truist cut the price target on Boston Scientific Corporation (NYSE:BSX) to $90 from $92 on April 15 and maintained a Buy rating on the shares. The rating update came as part of a broader research note previewing fiscal Q1 results in MedTech, with the firm stating that it expects fiscal Q1 performances to be in line or better than what feels like an anxious investor sentiment around Q1 volumes. It further told investors in a research note that the reduced price target reflects some multiple contraction for the group since the firm’s last valuation update. However, Truist also believes that the stock’s valuation can at a minimum rebound back up to its one-year forward earnings of 23-times.

Boston Scientific Corporation (NYSE:BSX) also received a rating update from RBC Capital on April 14. The firm cut the price target on the stock to $105 from $115 and maintained an Outperform rating on the shares. The rating update came as part of a broader research note previewing Q1 results for MedTech names.

Boston Scientific Corporation (NYSE:BSX) manufactures, develops, and markets medical devices used in interventional medical procedures. Its operations are divided into Cardiovascular and MedSurg segments. The Cardiovascular segment covers Cardiology and Peripheral Interventions, while the MedSurg segment comprises Urology, Endoscopy, and Neuromodulation.

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