Intuitive Surgical price target raised to $462 from $428 at Citi

Citi raised the firm’s price target on Intuitive Surgical to $462 from $428 and keeps a Buy rating on the shares as part of a Q1 earnings preview for the medical technology group. Expectations are “medium-to-high” for solid deliveries, encouraged by new products and pent-up demand, the analyst tells investors in a research note. The firm says that while the group has traded in-line with the market year-to-date, “it doesn’t really tell the current MedTech story.” Citi believes the Q1 reports should set-up the remainder of the year, hurdling tough year-over-year compares, as new products remain in focus. Its top picks remain Boston Scientific (BSX), Irhythm Technologies (IRTC) and Intuitive Surgical (ISRG).