Edwards Lifesciences price target lowered to $85 from $103 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Edwards Lifesciences to $85 from $103 and keeps a Buy rating on the shares post the Q2 report. The company “hit an airpocket” with transcatheter aortic valve replacement slowing before potential upside from Evoque, the analyst tells investors in a research note. The firm says that if Evoque wasn’t in the picture, investors would look at the low end of Q3 guidance. If Evoque wasn’t in the mix, Edwards shares could find a floor from mid $60s to $70, says Deutsche Bank. The firm still feels confident in its Evoque thesis but says Edwards Lifesciences “is shifting into a show me story.”