EW - Edwards Lifesciences upgraded at UBS on prospects in TAVR market

Following a decline of more than 15% in January, Edwards Lifesciences (NYSE:EW) has bounced back after UBS upgraded the cardiac equipment company to Buy from Neutral, citing its potential in the market of Transcatheter Aortic Valve Replacement (TAVR). Justifying the decision, the analysts led by Matthew Taylor argue that the company’s current share price represents “an attractive entry point for a quality growth name that should fare well in recovery.” They have raised the price target to $126 from $121 per share to imply a premium of ~16% to the last close. The analysts note Edwards’ (EW) leadership in TAVR, which, according to analysts, could see double-digit procedure growth in years ahead due to rising market penetration, geographic expansion, and new indications. In addition, the team argues that Edwards (EW) can maintain its market leadership on the benefits of the Sapien transcatheter heart valve among low-risk heart patients. UBS also

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Edwards Lifesciences upgraded at UBS on prospects in TAVR market