Jefferies Maintains Hold on Boston Scientific (BSX)

Jefferies is out with its report today on Boston Scientific BSX, maintaining Hold. In a note to clients, Jefferies writes, "BSX is early in a multi-year reshuffle, complete with a lot of near-term disruption and plenty of risk around whether the promise of faster revenue growth in the out years will be fulfilled. There does appear to be plenty of leverage in the model, and if there is a chance for outperformance over the next couple of years it is on the earnings front. The topline, however, looks to remain challenged, which will likely cap valuation. The caveat being that if earnings are drastically better than we forecast, even a low valuation framework could support a higher stock price. We remain at Hold." Jefferies has a $6.50 PT on BSX. Shares of BSX closed Wednesday at $7.08, up 0.71% from Tuesday's close.