Procept BioRobotics price target lowered to $95 from $105 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Procept BioRobotics (PRCT) to $95 from $105 and keeps an Overweight rating on the shares. Q4 earnings were “better than feared,” with procedures soft but rapidly recovering, says the analyst, who notes that investor expectations for Procept’s Q4 earnings were running low with the stock down 25% year-to-date and management deciding not to pre-announce in January. Given that, the firm would expect the stock to have “a small relief rally,” the analyst added.