EW - Edwards Lifesciences: Seeking 60% Upside For Potential Exit At $160 Per Share

• Edwards Lifesciences is well positioned to absorb cost headwinds in the medical technology segment.
• The company's propensity to drive free cash flow below the bottom line has ensured a robust schedule of growth in earnings and equity value.
• Recent pullbacks to its share price only open the upside potential further by estimation and we are buyers at these levels.
• We are seeking an objective to collect ~60% upside to a potential exit or rebalance at $150–$160 per share which is fair value for EW by our estimates.

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