UPDATE - Canaccord Genuity Upgraded Edwards Lifesciences (EW) to Buy; See Positive Risk/Reward

UPDATE - Canaccord Genuity upgraded Edwards Lifesciences (NYSE: EW) from Hold to Buy, maintains price target of $75.00.

Canaccord analyst, Jason R. Mills, said, "We upgrade EW to BUY and maintain a 12-month price target on the heels of positive analyst day highlights, including a robust TAVI pipeline update and strong guidance. We are also emboldened that consensus US TAVI estimates for 2013 have come down an estimated $100M over the past few months to ~$350M – a more achievable bogey, in our view. Lastly, we are bullish about the company’s near and long-term growth trajectory, margin profile and earnings potential."

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