12:25 PM EDT, 03/21/2024 (MT Newswires) -- Edwards Lifesciences ( EW ) is best positioned for leadership in transcatheter mitral and tricuspid therapies, or TMTT, market space thanks to its clinical progress in the segment, Morgan Stanley said in a Thursday note.

"Our...work and channel checks suggest sizeable upside risk to consensus through 2028+, with trial readouts, indication expansions, and product launches adding spice to the story," Morgan Stanley said.

The company could corner a 45% share in transcatheter mitral and 70% in transcatheter tricuspid by 2030, the report said, projecting TMTT to grow to about 15% of the company's sales in 2027 from about 3% last year.

"Edwards' TMTT pipeline is catalyst rich and best in class in our view," Morgan Stanley said. It raised its price target to $103 from $95 while reiterating its overweight rating on the stock.

Price: 94.81, Change: +1.76, Percent Change: +1.90