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