Citi downgraded Edwards Lifesciences to Neutral from Buy with a price target of $77, down from $85. The company is well positioned longer term but the near term is still transitional, the analyst tells investors in a research note. The firm says 2024 should be a set-up year for improving growth in 2025 as Edwards executes its TAVR strategy, builds its TMTT portfolio, increases its clinical data trove, and plans for the Critical Care spin-out. Citi is stepping aside given expectations that 2024 is a set-up year to 2025 and beyond.
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