UPDATE: Jefferies Initiates Coverage on Intuitive Surgical with Buy Rating, $480 PT as the Stock is Still a Growth Story

In a report published Friday, Jefferies analyst Imron Zafar initiated coverage on Intuitive Surgical ISRG with a Buy rating and $480.00 price target. In the report, Jefferies noted, “Intuitive Surgical is the robotic surgery market leader, and penetration of da Vinci in gynecology and urology has fueled robust growth over the past several years – until recently as a multitude of headwinds have taken a toll on the top-line. And while the near-term outlook remains challenging, core market stabilization coupled with inroads in new procedures should yield a return to sustainable double-digit growth. We initiate coverage with a Buy rating.” Intuitive Surgical closed on Thursday at $367.84.