Intuitive Surgical price target raised to $435 from $425 at Piper Sandler

Piper Sandler raised the firm’s price target on Intuitive Surgical to $435 from $425 and keeps an Overweight rating on the shares. The company reported Q1 results that topped consensus on both the top- and bottom-line, the analyst tells investors in a research note. The firm says there were several positive operational updates announced on the earnings call, such as, healthy initial demand for SP in Europe and Chinese regulatory approval for Ion. The Q1 report had “little-to-nothing to pick at,” contends Piper. Intuitive remains its favorite large-cap medtech name.