Intuitive Surgical’s robots will expand to brand new applications in addition to boost the company’s sales, according to a top Wall Street firm.
Goldman Sachs reiterated its buy rating for the surgical robot maker, predicting the company will report earnings above expectations next year.
“Our latest checks with management in addition to physician users leave us incrementally bullish on the brand new product pipeline in addition to opportunities for robotic surgery to expand into brand new applications,” analyst Isaac Ro wrote in a note to clients Thursday.
We “see the potential for further upside if lung biopsy in addition to hernia markets become significant. Our higher cost target is usually a function of higher target multiples, which we justify given our increased confidence within the growth outlook vs. Med Tech peers.”