Piper Sandler reiterated an Overweight rating and $90 price target on Boston Scientific (NYSE:BSX) on Tuesday.
The firm highlighted strong growth for Agent DCB, the only FDA-approved device for in-stent restenosis.
A competing device is expected by early 2027, but Piper Sandler sees only a modest impact on Agent's growth due to favorable NTAP reimbursement.
The STANCE trial for de novo coronary lesions could expand the addressable market five-fold.
Piper Sandler projects domestic Agent sales rising from $290 million in 2025 to $765 million in 2030.
Boston Scientific shares have faced pressure this year, but the company's strong pipeline makes the current pullback an attractive entry point. The stock trades at $56.79.
According to Bond.az analysis, the stock appears undervalued with a PEG ratio of 0.31.
In other news, Boston Scientific's FRACTURE trial met endpoints. The company also invested $1.5 billion in MiRus LLC and entered a $2 billion share repurchase agreement.
Truist Securities reiterated a Buy rating on BSX with an $85 target.
