Goldman Sachs Raises Price Target On Intuitive Surgical (ISRG), Momentum Unlikely to Reverse

Goldman Sachs raised its price target on Intuitive Surgical (NASDAQ: ISRG) from $362 to $412 but maintained its Neutral rating following strong third quarter results after the close.

The firm comments, "The quarter's results continue to demonstrate solid underlying demand for daVinci surgical robots even in the face of what appears to be a tough capex environment and channel checks suggesting high-end equipment remains a low priority for hospitals."

While maintained a Neutral rating, the analyst notes "Unless a source of material weakness is displayed by Intuitive Surgical’s business, current momentum in the stock is unlikely to reverse."

The firm raised 2011-2014E EPS from $11.43/$13.89/$16.34/$18.71 to $11.94/$14.43/$17.05/$19.65

For more ratings news on Intuitive Surgical click here and for the rating history of Intuitive Surgical click here.

Shares of Intuitive Surgical closed at $382.76 yesterday.

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