Upgrade Alert for Edwards Lifesciences (EW)
Edwards Lifesciences (NYSE:EW) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $114.44 on volume of 5.1 million shares, above average daily volume of 1.9 million.
There is potential upside of 51.1% for shares of Edwards Lifesciences based on a current price of $114.44 and an average consensus analyst price target of $172.89. The stock should find initial support at its 50-day moving average (MA) of $96.47 and further support at its 200-day MA of $81.36.
Edwards Lifesciences Corporation designs, develops, manufactures, and markets products and services to treat late-stage cardiovascular disease. The Company's products include tissue replacement heart valves, heart valve repair products, hemodynamic monitoring devices, angioscopy equipment, oxygenators, and pharmaceuticals. Edwards supplies its products to customers located worldwide.
Over the past year, Edwards Lifesciences has traded in a range of $61.38 to $112.00 and closed yesterday at $114.44, 86% above that low. The 200-day and 50-day moving averages have moved 0.69% higher and 1.54% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Edwards Lifesciences on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.13. Since that recommendation, shares of Edwards Lifesciences have risen 3.1%. We continue to monitor EW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades edwards lifesciences