Goldman Sachs Ups Edwards Lifesciences (EW) to Buy, On Product Cycle and Possible Take-Out; NUVA Downgraded
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Goldman Sachs upgrades Edwards Lifesciences Corp. (NYSE: EW) from Neutral to Buy and raised their price target from $79 to $95, representing 25% upside. The firm said, "Edwards is the only company across our universe that has a new product cycle, which will drive future margin expansion." Goldman also said EW is the most likely take-out candidate in the group.
In the same report, Goldman downgraded NuVasive (Nasdaq: NUVA) from Buy to Neutral and lowered their price target form $49 to $45, saying they no longer see material upside to consensus estimates. Goldman said the core business will require more SG&A to drive top-line growth.
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