Intuitive Surgical price target raised to $375 from $330 at Morgan Stanley

Morgan Stanley analyst Drew Ranieri raised the firm’s price target on Intuitive Surgical to $375 from $330 and keeps an Equal Weight rating on the shares. The Street’s” fixation on a next-gen launch was clear” into the company’s Q4 report, and Intuitive delivered with the announcement of the new da Vinci 5 multiport system. This is “a clear positive,” likely widening the competitive moat, but for 2024 there are “still unknowns,” mainly approval and launch timing, the analyst tells investors.