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Fly News Breaks for July 20, 2016
ISRG
Jul 20, 2016 | 06:09 EDT
Piper Jaffray analyst Matt O'Brien raised his price target for Intuitive Surgical to $700 saying the company reported another "beat and raise quarter" with upside driven by system revenue and 16% procedure growth. The analyst remains on the sidelines with respect to the shares, however, keeping a Neutral rating on the name. The analyst cites challenging comps, heightened capital spending and a cash earnings per share multiple that is now approaching 30-times for his Neutral rating.
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