UPDATE: UBS Downgrades Edwards Lifesciences (EW) to Neutral; TAVI Outlook Strong, But Already Priced In
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Price: $67.06 -2.26%
Rating Summary:
11 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
11 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade EW Now!
(Updated - June 26, 2012 10:42 AM EDT)
UBS downgraded Edwards Lifesciences (NYSE: EW) from Buy to Neutral. PT raised from $98 to $107.
Analyst, Rajeev Jashnani, said, "EW is one of the best growth stories in med tech & is poised to maintain a strong position in the fast-growing TAVI segment for several yrs as the US & Japanese markets open up. Stock has been de-risked after recent 1A panel & there is probably upside to numbers in the near-term. That said, the long-term outlook drives our valuation & favorable TAVI adoption seems reflected in the stock price (on 2013, 29x P/E, 3% FCF yield) hence we downgrade."
Jashnani sees 2012 global TAVI market at $900 million and increasing to $3.1 billion by 2017. Jashnani maintains FY12 EPS estimate of $2.66, but raises FY13 from $3.32 to $3.51.
For an analyst ratings summary and ratings history on Edwards Lifesciences click here. For more ratings news on Edwards Lifesciences click here.
Shares of Edwards Lifesciences closed at $102.15 yesterday, with a 52 week range of $61.59-$104.25.
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UBS downgraded Edwards Lifesciences (NYSE: EW) from Buy to Neutral. PT raised from $98 to $107.
Analyst, Rajeev Jashnani, said, "EW is one of the best growth stories in med tech & is poised to maintain a strong position in the fast-growing TAVI segment for several yrs as the US & Japanese markets open up. Stock has been de-risked after recent 1A panel & there is probably upside to numbers in the near-term. That said, the long-term outlook drives our valuation & favorable TAVI adoption seems reflected in the stock price (on 2013, 29x P/E, 3% FCF yield) hence we downgrade."
Jashnani sees 2012 global TAVI market at $900 million and increasing to $3.1 billion by 2017. Jashnani maintains FY12 EPS estimate of $2.66, but raises FY13 from $3.32 to $3.51.
For an analyst ratings summary and ratings history on Edwards Lifesciences click here. For more ratings news on Edwards Lifesciences click here.
Shares of Edwards Lifesciences closed at $102.15 yesterday, with a 52 week range of $61.59-$104.25.
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