BTIG raised the firm’s price target on Intuitive Surgical to $313 from $284 and keeps a Buy rating on the shares. The company’s Q1 procedure growth was up "meaningfully" while new indications and regulatory clearances should help investors "shrug off system concerns", the analyst tells investors in a research note. BTIG is positive on the long-term potential of robotic surgery and sees Intuitive Surgical as the clear leader in the space with a growing ecosystem around its robotic systems and strong operating leverage in outer years.
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