Brokerage Leerink Partners cuts price target for medical device maker Boston Scientific BSX.N to $89 from $95
Reiterates "outperform" rating
Leerink Partners says it is trimming PT after "lowering our estimates for BSX's Electrophysiology business, with significant cuts to our out-year forecasts"
The new PT represents a 27.3% upside to the stock's last close
Brokerage now expects BSX's U.S. electrophysiology business to post essentially flat growth of about 0.2% in fiscal 2027, down from its earlier estimate of 11.1%
"Even after significantly taking down our BSX EP estimates to reflect more aggressive US PFA share loss, this translates to relatively more minor changes to our overall BSX revenue and adj. EPS estimates" - Leerink Partners
Thirty-five of 37 brokerages rate the stock "buy" or higher, 2 "hold"; their median PT is $105
Up to last close, stock had fallen 26.75% YTD