Deutsche Bank Reduces Boston Scientific PT To $7.40 (BSX)

Deutsche Bank reduced its Boston Scientific BSX price target to $7.40 from $8.00 in a resaerch report published today. In the report, Deutsche Bank states, "For the past 5 yrs, EPS declined as BSX continues to struggle with consequences of the deal many wished got away. Case stories can be written on past mistakes, but the relevant questions today for investors include: Are we finally at an inflection point? Is 2011 guidance conservative, realistic, or aggressive? Is the valuation attractive? We believe guidance reflects the stark reality of the situation. There are some opportunities, but it's going to take a lot of time to turn this ship around. We don't find the valuation (esp EV/EBITDA) attractive." Shares of Boston Scientific were at $7.00 in pre-market trading at the time of posting, down 1.82% from Tuesday's market close.