Edwards Lifesciences (EW) PT Raised to $103 at Stifel
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Stifel analyst Rick Wise raised the price target on Edwards Lifesciences (NYSE: EW) to $103.00 (from $100.00) while maintaining a Buy rating.
The analyst commented, "Overall, Edwards better-than-expected 1Q21 results marked a solid start to 2021, and post-release recovery trend/guidance commentary left us feeling encouraged about the set-up for the remainder of the year. Starting with 1Q21, sales/EPS both exceeded the upper-end of management guidance, with positive broad-based growth on a year-over-year and sequential basis, despite well-known, early-1Q COVID headwinds. Our strong sense from these results and management commentary is that a robust March drove the quarterly-beat. Encouragingly, first-time 2Q21 sales/EPS guidance ranges, exceeding prior Stifel/Street consensus at the low-end, suggest that positive late-1Q recovery trends have continued. Still, with only a couple of weeks/months of visible recovery, management seems to be taking a thoughtfully-conservative approach to guidance, re-affirming full-year top line ranges, and raising 2021 EPS by the 1Q beat. To the extent COVID recovery continues and vaccines are successfully rolled-out, we think guidance leaves room for positive upside/guidance revisions as the year unfolds."
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