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UPDATE: Stifel Nicolaus Initiates Edwards Lifesciences at Buy on Growth Outlook

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Stifel Nicolaus initiated coverage on Edwards Lifesciences (NYSE: EW) with a Buy rating and a $113 price target.

Stifel Nicolaus noted, "We are initiating coverage of Edwards Lifesciences Corp. (EW) shares with a Buy rating and a $113 12-month target price. Over time, we think that Edwards' current market leading TAVR share (approximately 64% WW), its healthy new product pipeline, and the move into new geographies (e.g.Japan) will substantially expand the company's profitability and drive sustained above-industry-average growth through mid-decade. As the Transcatheter Valve Replacement market evolves further in years ahead, we believe Edwards is poised to benefit, driving significant top-line growth and operating leverage."

Edwards Lifesciences closed at $85.74 on Monday.

Latest Ratings for EW

DateFirmActionFromTo
Dec 2014BarclaysMaintainsEqual-weight
Dec 2014Bank of AmericaMaintainsNeutral
Dec 2014Morgan StanleyMaintainsEqual-weight

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