Citi downgrades Boston Scientific, citing uncertain road ahead

** Citi downgrades Boston Scientific BSX.N stock to "neutral" from "buy", cuts PT to $50 from $57

** Says medtech co's fortunes have shifted sharply this year, with shares pressured by a maturing U.S. pulsed field ablation market, increasing competition, a stagnant market for left atrial appendage closure devices, urology challenges, and a cybersecurity attack

** Brokerage has lowered estimates eight times so far this year, most recently on September 9, but remains wary that the latest revision will be the final one

** Last week, co said it no longer expects to meet ​its previously issued third-quarter and annual ‌forecasts

** "For years, BSX has been a steady beat-and-raise stock, and while we are confident that it will work through this, the time to resolution is opaque, investor patience has run thin, and we don't have a handle on the recovery path," adds brokerage

** Up to last close, BSX down 54% this year