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CIBC World Keeps 'Sector Outperform' on Boston Scientific

CIBC World keeps sector outperform on Boston Scientific (BSX).

Analyst John Calcagnini says he spoke to the company, and he thinks the stock is weak because it's not going to be on an Oct. 2 FDA panel for its Taxus stent product. Boston Scientific told him a competitor has been speculating what the restenosis rate on Taxus stent will be.

Calcagnini says Boston Scientific expects to know a panel date in the next few weeks. He continues to think it's Taxus data will be competitive with the 9% in segment restenosis reported for Johnson & Johnson's Cypher stent. Further, he says some cardiologists are disappointed with J&J, and its handling of the Cypher launch. Calcagnini is keeping his $68 target.

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