Edwards Lifesciences price target raised to $160 from $150 at Barclays
Barclays analyst Kristen Stewart raised her price target for Edwards Lifesciences to $160 from $150 after the Partner 3 data that showed the Sapien 3 transcatheter aortic valve was superior to surgery in low risk patients. While the market was broadly expecting superiority, results were very good across the board and better than many expected, Stewart tells investors in a research note. The analyst, however, maintains an Underweight rating on Edwards Lifesciences. She believes the stock is more than pricing the TAVR opportunity and assuming success with mitral. "In this context, we think there could be some risk ahead," Stewart tells investors in a research note.