Investing.com -- TD Cowen named Boston Scientific Corp (NYSE:BSX) as its top-performing large-cap medtech pick for 2025, citing strong momentum in its commercial portfolio and a robust product pipeline.
Brokerage raised its price target on the stock to $110 from $100, on Boston Scientific's ability to maintain premium valuation multiples due to its consistent growth and earnings trajectory.
The brokerage expects the company to sustain double-digit organic revenue growth, driven by flagship products like Farapulse and Watchman, which is expected to contribute in its organic growth.
These products, alongside operating margin expansion, position Boston Scientific as a standout in the medical devices sector, TD Cowen noted.
Farapulse is expected to retain market leadership in pulsed-field ablation (PFA) despite rising competition, with broader PFA market growth offsetting any share loss. Watchman, supported by positive trial results, continues to benefit from increasing procedures for left atrial appendage closure (LAAC) and atrial fibrillation ablation.
Risks to the forecast include potential underperformance of pipeline products, though TD Cowen considers this unlikely based on existing clinical evidence.