Deutsche Bank Raising Price Target On Edwards Lifesciences

Deutsche Bank is raising its price target on Edwards Lifesciences Corp

to $68 after the company announced positive Cohort B data. This makes FDA approval more likely. It has an Hold rating on shares. In the research note, Deutsche Bank writes, "The Cohort B data were positive and supportive of an ultimate FDA approval. In our view, the market view was for the trial to be good enough for approval, though it was better than likely expected as it hit superiority. At this time, we maintain our EPS estimates but raise our price target to $68 to reflect the lower risk now that Cohort B is behind us. There's still several data points ahead, which we'll assess and integrate into our future investment case." Shares of Edwards Lifesciences gained almost 12% in after-hours trading yesterday to close at $66.55. It closed the regular session at $59.70.