Edwards Lifesciences Slides After Being Added to Analyst Underperform List
2022.04.04 18:12
By Sam Boughedda
Investing.com — Shares of Edwards Lifesciences Corp (NYSE:EW) fell Monday after Evercore ISI analyst Vijay Kumar added the stock to the firm’s Tactical Underperform List.
The analyst added the stock ahead of its Q1 earnings release this month.
In a note to clients, Kumar pointed to the recent run in the stock, which has seen it gain 8% in the last month, and supply chain issues, meaning there is less potential for upside to his forecasts.
Edwards’ shares are down 2.7% Monday and 7.67% for the year to date.
The analyst does, however, have an Outperform rating on the shares and raised the price target to $126 from $122.
In contrast, on Friday, Citi added the stock to its Focus List. Citi analyst Joanne Wuensch added the stock to the list due to the fundamentals of the business remaining positive and the fall in its share price this year.
