Truist lowered the firm’s price target on Edwards Lifesciences (EW) to $71 from $82 and keeps a Hold rating on the shares. The firm is reducing its FY24 EPS view by 19c to $2.58 and its FY25 view by 48c to $2.52 after the company closed the sale of the Critical Care division sale to Becton Dickinson (BDX), the analyst tells investors in a research note. Edwards Lifesciences’ multiple re-expansion prospects will be limited without more confidence in revenue and EPS upside to counter the earnings hit from the Critical Care sale as well as its near-term acquisition dilution, particularly with the TAVR growth outlook slowing to mid-single-digit territory, Truist added.
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