Intuitive Surgical (ISRG) PT Raised to $600 at Baird

Baird analyst David Rescott raised the price target on Intuitive Surgical (NASDAQ: ISRG) to $600.00 (from $590.00) while maintaining a Outperform rating.

The analyst comments: "We were somewhat surprised by shares' limited sustained move (to the upside) after-hours, after ISRG delivered its highest OM in the last 15 quarters, on top of a Q2 that saw stellar, accelerating revenue/EPS growth (+21%/+23%) across all levels. While remanufactured I&A still remains a difficult-to-disprove overhang, ISRG's KPI's continue to fire on all cylinders, which, paired with (a) dV5 moving into full launch, and (b) abating China tariff headwinds (in line with our expectations), pushes our FY25/FY26 EPS ~3%/4% higher (+12%/16% Y/Y). At below-historical premium valuation levels, we remain buyers."

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