Edwards Lifesciences (EW) Has a Deep TAVR Backlog, PT Raised to $130 at Jefferies

July 30, 2021 8:14 AM EDT
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Price: $119.42 -1.05%

Rating Summary:
    22 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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Jefferies analyst Anthony Petrone raised the price target on Edwards Lifesciences (NYSE: EW) to $130.00 (from $110.00) after the company reported a $100mn/$0.09 beat on easing COVID restrictions and an unexpected benefit from previously deferred procedures.

The analyst stated "Although the extent of backlog contribution was not quantified, the 20% revised global TAVR outlook (prior +15-20%) undoubtedly reflects a degree of continued benefit through YE. On the TMTT side, clinical programs remain track as does the outlook for global TAM expansion to $3bn over the next 3-years."

while maintaining a Buy rating.

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