Intuitive Surgical price target raised to $650 from $550 at Barrington Barrington raised its price target for Intuitive Surgical shares to $650 saying the new da Vinci Xi system will increase the company's average selling prices and "reinvigorate" its systems revenue. Barrington believes the Street's 2014-2016 estimates for the company are probably too low and keeps an Outperform rating on the stock.
Intuitive Surgical initiated with a Neutral at Piper Jaffray Piper Jaffray analyst Matt O'Brien started shares of Intuitive Surgical with a Neutral rating and $505 price target. O'Brien calls the stock "simply too expensive" relative to expected sales and earnings, but admits Intuitive's robotic surgical technology will likely dominate the market in the coming years. Further, the analyst thinks the company's da Vinci Prostatectomy and da Vinci Hysterectomy procedures could contract amid new diagnostic tests and insurance pushback. The stock closed yesterday up $2.05 to $496.37.