RBC Capital analyst Shagun Singh raised the firm’s price target on Intuitive Surgical to $309 from $305 and keeps an Outperform rating on the shares. The company’s Q1 revenue topped expectations thanks to strong procedure volumes and higher system placements, the analyst tells investors in a research note, adding that the management also raised its FY23 procedure volume guidance to 18%-21% from 12%-16%, reflecting strong system utilization trends. The firm sees a multi-year period of growth ahead driven by Intuitive Surgical’s "technology leadership and robust underlying market trends".
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