Raymond James analyst Jayson Bedford downgraded Edwards Lifesciences to Market Perform from Outperform without a price target. Raymond James is less confident in the sustainable growth profile, and says that recent recent TAVR trends continue in the 7%-8% range, limiting upside to estimates, the analyst tells investors in a research note. The firm believes that the narrative on the stock becomes more defensive until U.S. TAVR growth sustainably accelerates or the rich pipeline gets closer to commercialization.
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