TD Cowen reiterates Boston Scientific stock rating on shipping restoration

TD Cowen has renewed its Buy rating and raised the price target to $56.00 for Boston Scientific (NYSE:BSX) following the company's announcement that it has started restoring shipping capabilities for most of its products at major distribution centers. The stock is currently trading at $47.66 with a market capitalization of $69 billion, and an analysis suggests the company is undervalued.

Despite a 51% decline year-to-date due to a cybersecurity disruption, Boston Scientific holds a strong financial health score of 3.11 out of 5. Following a market close update on Thursday, the company confirmed that it has initiated the shipping of majority of its products. A physician contact reported initial shipments of VersaCross and Farawave, and anticipates key products will be restocked by early next week.

However, the company will require time to clear its order backlog and is still restoring shipping for non-major products and locations. Boston Scientific had 22% of its finished goods inventory at customer locations by year-end 2025. TD Cowen expects an assessment of the full impact of the cybersecurity incident once all systems are fully remediated, which they estimate to take one or two more weeks.

Detailed recovery prospects and financial resilience of Boston Scientific can be found in the Pro Research Report available on InvestingPro.