Market Overview

UPDATE: J.P. Morgan Reiterates Neutral Rating, Lowers PT on Edwards Lifesciences

Related EW
UPDATE: Morgan Stanley Raises PT On Edwards Lifesciences Corp., Say Upside Now Tied To Bull Case
Credit Suisse Raises 2015 TAVI Estimates for Edwards Lifesciences Corp.
Making Money With Charles Payne: 10/10/14 (Fox Business)

In a report published Monday, J.P. Morgan & Co. reiterated its Neutral rating on Edwards Lifesciences Corp. (NYSE: EW), but slightly lowered its price target from $87.00 to $86.00.

J.P. Morgan noted, “We view TAVI as one of the most exciting opportunities in MedTech over the next decade, with WW sales projected to approach $1.7B by 2016. Edwards is uniquely positioned to lead the way in this market, in our view. And while questions about the ultimate pace of market expansion persist, we also believe that Edwards has the potential to drive industry leading growth over the next few years as it reaps the benefits of the Sapien US launch. Our model calls for the company to post a 16% EPS CAGR in 2012-16, making it arguably the most attractive growth story in the industry over the next few years. As a result, despite the fact that EW shares currently trade at 28x our NTM EPS estimate and 18x NTM EBITDA, making it the most expensive stock in our mid- to large-cap coverage universe, we see the risk/reward for the shares as at least balanced at current levels.”

Edwards Lifesciences Corp. closed on Friday at $86.77.

Latest Ratings for EW

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

View More Analyst Ratings for EW
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (EW)

Around the Web, We're Loving...

Get Benzinga's Newsletters