Jefferies analyst Matthew Taylor upgraded Edwards Lifesciences (EW) to Buy from Hold with a price target of $98, up from $80. The company had a “stellar” Transcatheter Cardiovascular Therapeutics symposium with high-frequency data suggesting its transcatheter aortic valve replacement growth is accelerating, the analyst tells investors in a research note. The firm says Edwards’ Phase 3 7-year data lends confidence to the durability of TAVR and could increase implantation rates in low-risk patients. In addition, the company’s better Evoque real-world data was a “positive surprise” and “could juice that market,” contends Jefferies.
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