Truist downgraded Edwards Lifesciences to Hold from Buy with a price target of $82, down from $110. The analyst cites a lower 2024 and 2025 outlook for the downgrade. Edwards is contending with a slowing transcatheter aortic valve replacement outlook and some incremental acquisition dilution in 2025 from two new deals, the analyst tells investors in a research note. The firm is reluctant to recommend the shares on multiple re-expansion prospects alone, especially with the TAVR growth outlook slowing.
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