UPDATE: Citigroup Lowers PT on Edwards Lifesciences Following Annual Investor Meeting

In a report published Tuesday, Citigroup analyst Amit Bhalla reiterated a Buy rating on Edwards Lifesciences Corp. (NYSE: EW), but lowered the price target from $75.00 to $72.00.

In the report, Citigroup noted, “On Monday (12/09/13), Edwards held its annual investor meeting in New York, NY where it issued initial 2014 guidance (and high level thoughts on 2015), updates on the general business dynamics and growth drivers within each segment and updates on clinical trial and pipeline activities including its mitral program. While 2014 was below expectations due to increased competitive pressure US/EU, mgmt. believes the long-term opportunity remains unchanged.”

Edwards Lifesciences Corp. closed on Monday at $62.10.