Intuitive Surgical price target lowered to $300 from $310 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on Intuitive Surgical to $300 from $310 after its Q4 earnings miss but keeps a Buy rating on the shares. The stock will be pressured on indication that the company’s nexgen multi-port robot isn’t coming in 2023, which was a "hoped for near-term catalyst", the analyst tells investors in a research note. Truist states however that the robot delay does little to its estimates as it still sees Intuitive Surgical growing revenue and earnings at a mid-teens CAGR, which is likely to stand out as one of the best rates in large-cap MedTech.