Analysts Slash Targets on BSX and Boeing

Boston Scientific took the heaviest analyst fire on Friday. Jefferies downgraded the stock from Buy to Hold. The firm cut its target from $60 to $46. Canaccord Genuity kept its Buy rating but slashed its own target from $66 to $48. The consensus across the street moved sharply lower. The average target fell to $52.0 from $57.3, a drop of nearly 9%.

Boston Scientific carries a market cap of $61.5B. Short interest sits at just under 3% of free float, so the moves are analyst-driven, not a short squeeze story.

Boeing saw its target cut by Bernstein. Analyst Douglas Harned trimmed his price target from $278 to $223, a reduction of $55. He maintained a Buy rating. The stock has a $132B market cap. The cuts reflect ongoing concerns about production recovery timelines.

Visa got a brighter look. Macquarie's Paul Golding raised his target from $420 to $465, maintaining a Buy. With 36 Buy ratings and only two Hold calls in the consensus, Visa remains one of the most universally liked large-caps on the street.

On the consumer side, MGM Resorts saw Macquarie trim its target from $48 to $46. Chipotle had its Bernstein target cut from $50 to $43. Both analysts kept Buy ratings, suggesting trimmed expectations rather than a change of view.

Honeywell Aerospace saw its consensus rating nudged lower, with the buy-to-hold ratio shifting slightly toward caution.