Fly News Breaks for October 18, 2019
Oct 18, 2019 | 08:41 EDT
Raymond James analyst Lawrence Keusch raised his price target for Intuitive Surgical to $615 from $610 and maintained an Outperform rating following the company's "strong" Q3 earnings report. In a research note to investors, Keusch says he remains constructive on shares, given a multi-year new product cycle, procedure growth trends remaining intact, and significant balance sheet optionality with a ~$5.4B in net cash position. The analyst says he is a buyer of the stock following the "robust" performance, and says he views near-term competitive concerns as now largely derisked in the mid-term.
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