Purchase red-hot robotic maker Intuitive Surgical, Goldman says

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Intuitive Surgical’s robots will develop to new purposes and enhance the corporate’s gross sales, in keeping with a high Wall Road agency.

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Goldman Sachs reiterated its purchase ranking for the surgical robotic maker, predicting the corporate will report earnings above expectations subsequent 12 months.

“Our latest checks with management and physician users leave us incrementally bullish on the new product pipeline and opportunities for robotic surgery to expand into new applications,” analyst Isaac Ro wrote in a word to purchasers Thursday.

We “see the potential for further upside if lung biopsy and hernia markets become significant. Our higher price target is a function of higher target multiples, which we justify given our increased confidence in the growth outlook vs. Med Tech peers.”

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Natalia Camp

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