10:40 AM EDT, 04/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Following the better-than-expected Q1 results announcement this morning, we increase our price target to $82 from $75, 31.8x our 2025 EPS estimate, a premium to BSX's historical forward average, justified by our expectations for superior growth vs. peers. We raise our 2024 EPS view to $2.31 from $2.27 and we lift 2025's by $0.02 to $2.58. BSX reported Q1 EPS of $0.56 versus $0.47 (+19% Y/Y), exceeding our forecast by $0.04 and the S&P Capital IQ consensus estimate by $0.05. Q1 revenue of $3.9B, up a solid 14% Y/Y, came in $178M higher than our estimate and $172M above consensus. We now expect revenue growth of roughly 11% in 2024 and another 7% in 2025, after growth of 12% in 2023. We continue to think shares of BSX remain attractive at current valuations. BSX's proposed acquisition of Axonics (AXNX 67 NR) for $3.7B, announced in January, is now expected to close during the second half of 2024. We think contributions from AXNX, a fast-growing firm, could accelerate top-line revenue growth even further.