Morgan Stanley On Boston Scientific's Promus Element

Morgan Stanley has issued a report on Boston Scientific's BSX presentation of Promus Elements at its ACC analyst meeting. Morgan Stanley writes, "In our view, increased investor confidence in profitability improvement is the most important consequence of the successful PLATINUM trial, though the potential for additional stent share gains is also a nice opportunity. More than 60% of the company's planned 400 bps improvement in gross margin over the next several years is tied to Promus Element conversion." BSX has an Equal-weight rating and traded at $7.23 at closing yesterday.