RBC Capital raised the firm’s price target on Intuitive Surgical to $432 from $400 and keeps an Outperform rating on the shares. The analyst cites the company’s Q4 earnings beat while noting that the highlight of the quarter was the announcement that its next-gen system, da Vinci V, is slated for a U.S. launch in the quarters ahead. Intuitive Surgical expects a phased launch and called out headwinds in 2024 on placements, sales, and margins, though the firm sees substantial upside potential for the stock ahead, the firm tells investors in a research note.
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