Citi downgraded Edwards Lifesciences to Neutral from Buy with a price target of $77, down from $85. The company is well positioned longer term but the near term is still transitional, the analyst tells investors in a research note. The firm says 2024 should be a set-up year for improving growth in 2025 as Edwards executes its TAVR strategy, builds its TMTT portfolio, increases its clinical data trove, and plans for the Critical Care spin-out. Citi is stepping aside given expectations that 2024 is a set-up year to 2025 and beyond.
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Read More on EW:
- Edwards Lifesciences price target raised to $77 from $75 at Baird
- Edwards Lifesciences price target lowered by $7 at Barclays, here’s why
- Edwards Lifesciences approves $1B of additional share repurchase authorization
- Edwards Lifesciences sees FY24 adjusted EPS $2.70-$2.80, consensus $2.80
- Edwards Lifesciences backs FY23 adjusted EPS view $2.47-$2.53, consensus $2.51
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