EW - Edwards Lifesciences is not getting the credit it deserves: Evercore ISI

Edwards Lifesciences ([[EW]] +2.1%) is continuing its 10-day winning streak after Evercore ISI upgraded the stock to outperform from in-line.Noting a ‘meaningful discount’ compared to peers such as Intuitive Surgical ([[ISRG]] +2.4%) and Illumina ([[ILMN]] -0.1%) the analyst Vijay Kumar and the team have increased the stock’s price target by more than a quarter to $110.00 per share to imply ~31.2% upside to the previous close.The medical device maker is about to reach its best ‘pipeline cycle’ in its history, the analysts argue calling the company a ‘leading horse’ in the space of structural heart disease.Despite outstanding clinical data and organic revenue & EPS figures comparable to ‘secular peers,’ the Street ‘is not giving it the credit it deserves,’ the analysts point out expecting the upcoming clinical data readsouts to narrow the PE discount.In November, Jefferies predicted Edwards Lifesciences to benefit from a vaccine-driven rebound in healthcare procedures.

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Edwards Lifesciences is not getting the credit it deserves: Evercore ISI