Citi downgrades Boston Scientific to neutral and cuts target

On 17 September 2026, Citi downgraded Boston Scientific to Neutral from Buy. Analyst Joanne Wuensch lowered her price target for the stock to $50 from $57, pointing out that the medical device maker's fortunes have shifted significantly this year.

Wuensch highlighted a string of challenges in 2026. These include a more mature and competitive U.S. market for pulsed field ablation, a stagnating market for left atrial appendage closure, setbacks in urology, and the prolonged effects of a cybersecurity attack. Citi had already lowered its financial estimates for the company eight times this year, most recently on 9 September.

The bank flagged headwinds across key product lines while investors wait for new launches. For the Watchman device, proposed clinical guidelines and pending reimbursement changes could hinder adoption. Management expects the closure market to decline in the second half and into 2027, alongside market share loss to Abbott's next-generation Amulet device.

In electrophysiology, Wuensch expects competition in pulsed field ablation to weigh on performance until new catheters arrive in the second half of 2027. Citi models sales linked to the Farapulse system down 5.3% in the second half and flat in 2027.