Intuitive Surgical price target raised to $475 from $460 at Morgan Stanley

Morgan Stanley analyst Drew Ranieri raised the firm’s price target on Intuitive Surgical to $475 from $460 and keeps an Equal Weight rating on the shares. Expectations were elevated into Q2, but Intuitive posted “a better than expected result across all facets,” says the analyst, who adds that DaVinci 5 placements at 70 systems were “way ahead of expectations” and put the Gen5 system’s commercial trajectory above Xi’s initial U.S. launch in 2014.