Edwards Lifesciences (EW) can sustain a high revenue growth rate given its technological leadership and the under-penetrated global transcatheter aortic valve replacement market, RBC Capital Markets said in a note Monday.

The company's New York Valves presentations reinforced its leadership in clinical evidence and included baseline data from its Progress trial, providing the first detailed look into the moderate aortic stenosis population ahead of the full readout later this year, according to the note.

The brokerage estimates there are about 950,000 severe symptomatic aortic stenosis patients in the US, including about 350,000 low-risk patients who could be diagnosed with severe asymptomatic AS, and about 1 million moderate AS patients, suggesting a multi-year runway for growth.

Moreover, Edwards' Pascal platform, along with Abbott's (ABT) MitraClip, is positioned to drive expansion in the mitral regurgitation market, which remains notably under-penetrated with room for multiple market participants, the brokerage said.

RBC Capital Markets kept an outperform rating on Edwards Lifesciences, with a price target of $100.

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