Wedbush Raises Price Target on Edwards Lifesciences (EW), Shares Still Over Valued
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Price: $91.60 -1.04%
Rating Summary:
31 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
31 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush is raising its fair value estimate from $68 to $75 on shares of Edwards Lifesciences (NYSE: EW), but is maintaining its Underperform rating as shares are currently trading above $86.
The firm’s fair value estimate was increased following the SAPIEN Cohort A data which appears impressive overall and supports some of the firm’s confidence. Wedbush believes that the market isn't that to drive up substantial and continuous growth. Moreover, the firm doesn't believe that the Cohort A data supports the further expansion of EW’s multiples.
Wedbush continues to expect healthy revenue growth for the company in the long-term in the transcatheter valve market. However, it notes that even incorporating such growth, shares of EW appear to be fully valued.
For more ratings news on Edwards Lifesciences click here and for the rating history of Edwards Lifesciences click here.
Shares of Edwards Lifesciences closed at $86.07 yesterday.
The firm’s fair value estimate was increased following the SAPIEN Cohort A data which appears impressive overall and supports some of the firm’s confidence. Wedbush believes that the market isn't that to drive up substantial and continuous growth. Moreover, the firm doesn't believe that the Cohort A data supports the further expansion of EW’s multiples.
Wedbush continues to expect healthy revenue growth for the company in the long-term in the transcatheter valve market. However, it notes that even incorporating such growth, shares of EW appear to be fully valued.
For more ratings news on Edwards Lifesciences click here and for the rating history of Edwards Lifesciences click here.
Shares of Edwards Lifesciences closed at $86.07 yesterday.
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