Jefferies Remains On Boston Scientific Sidelines, Hold Rating (BSX)

Jefferies stated it will remain on Boston Scientific BSX sidelines with a Hold rating pending further information, in a research report published today. In the report, Jefferies states, "Boston Scientific has new management with a plan for improving performance. However, it remains to be seen whether BSX can diversify from its slowing CRM and DES franchises, and until there is clear evidence of better growth, we remain on the sidelines." Later in the report, Jefferies states, "BSX reported 4Q results with marginally better performance on the top line and a beat on the bottom line driven by a significant tax benefit. 4Q revenues were down 3.7% as company continues to face challenges in core markets. EPS guidance was well below current estimates indicating another tough year." Shares of Boston Scientific were at $.689 in pre-market trading at the time of posting, down 3.37% from Tuesday's market close.