Oppenheimer upgraded Intuitive Surgical (ISRG) to outperform from market perform. Analysts established a new price target of $500 for the stock.
The upgrade reflects confidence in the expanding robotic-assisted surgery market. This global sector is projected to exceed $14 billion by 2026.
Oppenheimer reports that competitive pressures remain limited for the industry leader. Workflow challenges for Johnson & Johnson’s Ottava system are not viewed as significant near-term threats.
Intuitive Surgical maintains its dominant position through the da Vinci Surgical System. The company currently controls a majority of the global market share.