Goldman Sachs Upgrades Intuitive Surgical (ISRG) to Buy, Sees 28% Upside

February 22, 2013 6:55 AM EST
Get Alerts ISRG Hot Sheet
Price: $656.75 -0.2%

Rating Summary:
    22 Buy, 10 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs upgraded Intuitive Surgical (NASDAQ: ISRG) from Neutral to Buy with a price target of $715.00 (from $591.00), suggesting 28% upside.

"Recent results as well as our own due diligence confirm that surgical robotics is evolving into a platform technology with several new procedure categories gaining traction," the analyst comments. "As the company sees increased uptake in these procedures, we see the revenue trajectory as sustainable in the +18%-20% range annually whereas consensus estimates call for a slowing in outer years."

The combination of solid revenue growth and the potential for the company to more
aggressively deploy capital should share price outperformance, the firm said.

For an analyst ratings summary and ratings history on Intuitive Surgical click here. For more ratings news on Intuitive Surgical click here.

Shares of Intuitive Surgical closed at $561.25 yesterday.

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