UPDATE: Goldman Sachs Initiates Edwards Group Limited with Buy, $13 PT on Strong EPS Growth, Discount

Goldman Sachs initiates its coverage on Edwards Group Limited (NASDAQ: EVAC) with a Buy rating and a price target of $13. Goldman Sachs comments, "Edwards trades at just 6X normalized EPS and 6X EV/EBITDA, and we expect EPS to grow at a highsingle-digit CAGR cycle to cycle as it (1) benefits from growth beyond the semi end market in areas such as industrial; (2) better capitalizes on its large installed base as it is currently capturing just 35% of the service opportunity on its own pumps; (3) reduces net debt from 1.8X post IPO to about 1X next year, contributing 10%-15% to our out-year EPS estimates." EVAC closed at $7.40 on Tuesday.