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Fly News Breaks for May 20, 2016
EW
May 20, 2016 | 07:45 EDT
A Tuesday presentation at EuroPCR, which questioned the durability of transcatheter valves, sent shares of Edwards Lifesciences down 5% over the last three trading days, JPMorgan analyst Michael Weinstein tells investors in a research note. The study claimed to be the first of transcatheter valves out in 10 years, "when in fact it was far from it," the analyst contends. Further, it was a two center study, poorly run, with seven patients out eight years, and the conclusions are "shaky at best and at a minimum misleading," Weinstein argues. He recommends buying Edwards following this week's pullback and keeps an Overweight rating on the name with a $120 price target.
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