Edwards Lifesciences price target lowered to $83 from $88 at Piper Sandler

Piper Sandler lowered the firm’s price target on Edwards Lifesciences to $83 from $88 and keeps a Neutral rating on the shares. The firm expects more investor attention to shift to competitive dynamics later this year and in 2024 and it sees “a handful of data readouts” over the next 12-18 months that could have potential commercial implications. Most notably, the five year results from the Edwards PARTNER 3 Low-Risk Trial are scheduled to be presented at the upcoming TCT meeting in October, the firm points out. While the stock’s valuation has “become more compelling,” Piper is “electing to take a wait-and-see approach before becoming more constructive on shares,” the analyst added.