In a report published Monday, Bank of America analyst Bob Hopkins reiterated a Neutral rating on Edwards Lifesciences EW, and raised the price target from $67.00 to 75.00.
In the report, Bank of America noted, “Over the next 5+ years, there is no other new product opportunity in medtech of a similar pot'l size as the TAVI market, and EW is the only stand-alone name. EW has this opportunity at a time when large-cap medtech is severely growth challenged and threatened by margin uncertainty given health care reform, but flush with cash. We believe TAVI will stand alongside coronary stents as a core technology in the catheterization lab of the future.”
Edwards Lifesciences closed on Friday at $72.13.
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