Wells Fargo Maintains Outperform, $86-88 Range on Edwards Lifesciences

Wells Fargo reiterates its Outperform rating and $86-88 valuation range on Edwards Lifesciences

Wells Fargo says, “Due to a slightly later U.S. Sapien launch and softer sales in southern Europe, the company now expects it Q4 2011 sales to come in at the low end of its guidance range. However, the company provided strong 2012 sales and EPS guidance which included healthy U.S. Sapien sales guidance of $200-260MM and conservative outside the U.S. (OUS) Sapien guidance of $360-370MM (+11-14%).” EW closed at $64.53 per share on Friday.