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BOSTON SCIENTIFIC (BSX) 46 7/8 +3 13/16. Wall Street analysts are a quirky bunch. Some of their moves simply make you scratch your head. For example, this medical device maker's shares have risen as much as 5 7/8 points, or 13%, today, after the company released preliminary sales numbers for the 4th qtr. For the qtr ended December 31, BSX's sales rose 14% to $493 million. On the news, several analyst repeated their buy ratings on the stock, even though the sales growth figure is below the majority of their forecasts. So what gives? Well, excluding the effect of foreign exchange, the company's revenues would have risen 19%. That's great. But this is the real world we're living in. Dealing with currency fluctuations is a fact of life if one does business overseas. You can be sure, that had the dollar been falling... You know the rest. Yes, it's pretty incredible how one-sided this game tends to be. |
