Intuitive Surgical's robots will expand to new applications and 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 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 note to clients 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."