Bank of America cuts Boston Scientific’s price target by 35% citing lower medtech valuations and macro pressures.
Bank of America reduced Boston Scientific’s (NYSE:BSX) price target to $68 from $105, maintaining a Buy rating. The adjustment follows a review of 34 medtech companies, reflecting concerns over inflation, utilization trends, and shifting investor focus toward AI and data centers over healthcare.
The firm cited a “new reality” for medtech valuations amid fewer product cycles and post-war economic pressures. Earlier in April, Argus also cut BSX’s target to $95 from $115 after the company lowered its guidance, though it viewed the pullback as a buying opportunity.
Boston Scientific operates in cardiovascular and medtech segments, with growth in areas like electrophysiology and neuromodulation.