Deutsche Bank (DB) maintained its "Hold" rating on Boston Scientific Corp. (NYSE:BSX) with a price target of $6.50.
The bank wrote that the company's fourth-quarter sales were below expectations due to weaker performances in its CRM and drug-eluting stent business. "Guidance for 2012 was lower than we and the Street had modeled," it said.
"While we believe the company is taking the right actions (e.g. restructuring, focusing on costs and its pipeline), we believe the end markets and BSX's relative position therein are likely to make a turnaround of the company farther out on the horizon," DB said.
BSX shares, which have been trading between $5.01 and $7.96 over the past year, fell 0.66 percent to trade at $5.99 on Monday.