New PT For Edwards Lifesciences

JP Morgan writes for Edwards Lifesciences

"[O]ur new $61 [up from $53] Dec 2010 price target is based on our DCF valuation and corresponds to a 29x multiple on our 2011 earnings estimate. This represents a significant premium to the current SMID-cap Medtech average NTM P/E of 15.4x, which we believe fully captures the long-term potential of the company's transcatheter valve program." JP Morgan maintains its Underweight rating for Edwards Lifesciences, which closed yesterday at $59.70. Learn how to find the best

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