Leerink starts coverage on Boston Scientific and Medtronic with bullish ratings

Investing.com -- Leerink Partners began coverage on three of the largest medical technology companies on Monday, assigning bullish ratings to Boston Scientific (NYSE: BSX) and Medtronic (NYSE: MDT), while taking a more neutral stance on Abbott Laboratories (NYSE: ABT)

The firm initiated Boston Scientific and Medtronic with Outperform ratings, citing company-specific catalysts and improving fundamentals, and set price targets of $118 and $110, respectively.

Abbott was rated Market Perform with a $143 target.

Abbott’s exposure to strong end-markets is already reflected in the stock, limiting near-term upside, according to the note.

Leerink said it sees “potentially meaningful” upside in Boston Scientific, driven by growth in its FARAPULSE and WATCHMAN franchises.

For Medtronic, the firm pointed to pulsed field ablation (PFA) as a key growth engine and argued that current valuation levels , near three-decade troughs on a relative basis, offer an attractive entry point.

“We see a positive shifting tide for MDT led by PFA creating an attractive entry point with the stock still near >30-Year trough relative valuation levels,” analysts said.

Together, the three companies account for nearly $500 billion in combined market capitalization. Leerink said their strategic decisions and product trajectories have wide-reaching effects across the broader MedTech landscape.

The firm said its fresh coverage aims to identify where market perceptions may have diverged from underlying fundamentals, highlighting areas of disconnect that could create investment opportunities.

You May Also Be Interested In

• NVIDIA to acquire Hugging Face for $12.93 billion
• Toro Company (TTC) Tops Q3 EPS by 3c; offers guidance
• Rail Vision selected for MxV Rail locomotive sensor testing program