Canaccord Genuity Suggests Adding To Positions in Edwards Lifesciences (EW); Buy Ahead of Catalysts

Canaccord Genuity reiterates a 'Buy' on Edwards Lifesciences (NYSE: EW) price target of $86.00.

Analyst, Jason R. Mills, said, "EW produced strong Q1 results relative to our/consensus expectations, as concerns specific to Q1 (i.e., reimbursement hurdles facing the US SAPIEN ramp and OUS TAVI market) were unfounded. Guidance was reduced modestly for TAVI, total revenue and pro-forma earnings, but the reduction was less than we/consensus had expected. We recommend investors accumulate EW common ahead of two near-term catalysts – NCD final decision (expected early MayE) and Cohort-A Panel (mid-June)...We increase our 2012E and 2013E modestly, and continue to recommend large - cap growth investors add to positions in EW."

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 $73.33 yesterday.

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