UPDATE: Deutsche Bank Raises PT to $80 on Edwards Lifesciences Ahead of Panel Outcome

Deutsche Bank reiterates its Hold rating on Edwards Lifesciences

and raises its price target from $75 to $80. Deutsche Bank notes, "We are raising our price target as the Panel outcome reduces risk but are maintaining our Hold rating as we believe the stock is fully valued. A FDA Advisory Panel outcome positive. The FDA will now take the Panels input and we believe will ultimately approve SAPIEN in late 3Q/4Q. What will be particularly important will be the ultimate indication/labeling given the Medicare NCD. We believe a favorable Panel and FDA approval was already reflected in the stock." EW closed at $90.54 on Wednesday.