Intuitive Surgical price target raised to $540 from $500 at Raymond James

Raymond James raised the firm’s price target on Intuitive Surgical to $540 from $500 and keeps an Outperform rating on the shares. The firm sees a path to accelerating revenue growth over the next two years with the launch of da Vinci 5, and expects dv5 placements to track above plan, the analyst says. Raymond James believes the measured rollout and the focus on greenfield placements should help minimize the impact on utilization, which would provide upside to the firm’s current procedure growth estimates.