UPDATE: Citi Lowers PT on Boston Scientific to $7.30

Citi is out with its report today on Boston Scientific BSX, lowering its PT from $7.40 to $7.30. In its report, Citi writes, "We arrive at our $7.30 target price using a rounded up average of two valuations: 1) an 11.6x multiple off our 2012 cash EPS of $0.71 and 2) a TEV/EBITDA 7.2x target." Citi maintains Hold on BSX. Shares of BSX closed Thursday at $7.28, up 8.49% from Wednesday's close.