Intuitive Surgical price target raised to $570 from $520 at Truist

Truist raised the firm’s price target on Intuitive Surgical to $570 from $520 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results for the MedTech sector. While the firm believes that any hurricane related headwind call-outs for Q4 will generally get “a pass” from investors, it could cause companies with elective or deferrable procedure areas to see more muted guide increases, the analyst tells investors in a research note. For the stock, Truist contends that it deserves a premium multiple more towards the upper-end of its historical range given sustained, elevated procedure growth and a new product cycle now close in-hand with the potential to drive significant revenue and EPS growth acceleration.