Goldman Sachs Reiterates Buy Rating on Edwards Lifesciences Following Detailed Thesis Review

In a report published Monday, Goldman Sachs analyst David H. Roman reiterated a Buy rating and $84.00 price target on Edwards Lifesciences EW.

In the report, Goldman Sachs noted, “We have undertaken a detailed review of our thesis on Edwards in light of the stock's ytd underperformance (EW -4,000bp vs. SPX), what we perceive as increasingly negative investor sentiment, and data from new potential competition. Over the past two weeks, we attended the Paris Course on Revascularization, traveled with senior management (Tom Abate, CFO, and Patrick Verguet, Corporate VP EMEA and Latin America), and reworked our detailed US center analysis. In this report, we update our model (no material changes), chart out the drivers/potential catalysts for the stock, and present an updated risk/reward analysis.”

Edwards Lifesciences closed on Friday at $66.46.