EW - Edwards upgraded to overweight at Wells Fargo on transcatheter aortic valve growth

Wells Fargo has upgraded Edwards Lifesciences (NYSE:EW) to overweight citing growth in transcatheter aortic valve replacements (TAVRs). The firm has a $126 price target (~13% upside). Analyst Larry Biegelsen expects pivotal trial data that will be presented next year on the Pascal transcatheter mitral valve repair device will be positive. That could lead to approval late next year or in early 2023. Biegelsen is also optimistic on data from the EARLY-TAVR trial of the SAPIEN 3 Ultra Transcatheter Heart Valve in asymptomatic aortic stenosis. He believes the trial has the potential to nearly double the present market for TAVRs. Credit Suisse recently named Edwards a top stock pick for December.

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Edwards upgraded to overweight at Wells Fargo on transcatheter aortic valve growth