Coverage Initiated For Boston Scientific At Hold

Jefferies & Co. has published a research report for Boston Scientific Corporation (NYSE: BSX) with new coverage initiated.

In the report, Jefferies writes "We are initiating coverage on Boston Scientific (BSX) with a Hold rating. Since its acquisition of Guidant in 2006, Boston has weathered a storm of product recalls, limited new product introduction, and the lack of a clear strategic plan. Growth has stalled and with the vast majority of the company's revenues tied to markets facing low single digit growth rates. However, until there is better evidence of the plan working, we are taking a neutral stance on shares of BSX."

Jefferies maintains its $7 price target for Boston Scientific, which closed yesterday at $6.18.