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Fly News Breaks for November 14, 2019
EW
Nov 14, 2019 | 06:20 EDT
Barclays analyst Kristen Stewart believes shares of Edwards Lifesciences and keeps an Underweight rating on the name despite raising her price target to $180 from $175. Management dampened transcatheter aortic valve replacement 2020 expectations despite coming in well ahead of Q3 expectations, noting it expected 2020 TAVR procedure to return to double-digit growth, Stewart tells investors in a research note. This implies single-digit growth in the second half of 2020 and this outlook is likely conveyed at the December analyst day, adds the analyst. She believes this means the company's overall underlying growth is going to slow into the single-digits as well since TAVR are 64% Edwards' sales.
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