JP Morgan likes Boston Scientific's Augmenix buy

• JP Morgan's Robert Marcus gives Boston Scientific (NYSE:BSX) a thumbs up for its takeout of Augmenix for up to $600M, although "it did not come cheaply."
• He cites the $750M addressable market for Augmenix's SpaceOAR Hydrogel which is designed to reduce high-dose radiation to the rectum in prostate cancer patients receiving radiotherapy.
• He rates BSX Overweight with a $40 (11% upside).
• Stifel's Rick Wise is also along for ride, raising his price target on BSX to $39 (8% upside) from $37.
• Previously: Boston Scientific to acquire Augmenix for up to $600M (Sept. 6)