Deutsche Bank (DB) maintained its "Hold" rating on Edwards
Lifesciences Corp. (NYSE:EW), saying the shares already largely reflect
the opportunity with transcatheter valves.
The bank, which has a price target of $75.00 on the stock, noted that
Edwards' fourth-quarter results were weaker-than-expected on an
operational perspective and EPS was helped by a reduced tax rate.
"While we believe transcatheter valves will be the longer term
future, we believe that the near-term uptake may be less than the
company expects driven by the lack of visibility in the CRM
reimbursement, as well as other competitive dynamics," DB wrote in a
note.
On Friday, the stock tumbled 11 percent to $71.73. The shares have been trading between $61.59 and $91.82 over the past year.
