Oppenheimer Upgrades Procept BioRobotics Corp (PRCT) to Outperform

Oppenheimer analyst Suraj Kalia upgraded Procept BioRobotics Corp (NASDAQ: PRCT) from Perform to Outperform with a price target of $60.00.

The analyst commented: "We are upgrading PRCT to Outperform from Perform and establishing a $60 PT on the heels of our recent meeting with the company. We believe the stock selloff is overdone and risk-reward is quite attractive for longer-horizon growth investors. This change from our recent initiation (link) reflects: 1) reimbursement uncertainty is mitigated (good or bad) now that proposed CPT rates are out; 2) the C-suite shuffle seems more benign than originally feared; 3) the mild FY guide raise seems conservative; 4) the story’s strategic appeal; and 5) enhancing HYDROS with 3D ultrasound that allows MRI fusion presents an exciting competitive advantage for next-gen device, in our view. Our $60 price target assumes ~7.7x our FY26E revenue vs. the aggregate MedTech universe at 3.9x."

For an analyst ratings summary and ratings history on Procept BioRobotics Corp click here. For more ratings news on Procept BioRobotics Corp click here.

Shares of Procept BioRobotics Corp closed at $40.17 yesterday.

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