UPDATE: Morgan Keegan Raises PT on Intuitive Surgical to $400
Morgan Keegan is out with its report today on Intuitive Surgical (NASDAQ: ISRG), raising its PT from $340 to $400.
In its report, Morgan Keegan writes, "We remain valuation sensitive, especially given uncertainties regarding capital equipment spending in light of the weakening global economic conditions. And while the long-term growth trajectory remains solid given the broad platform capability and growing number of surgical applications, we believe that Intuitive Surgical shares currently reflect the growth opportunities assumed in our model. Consequently, we are maintaining our Market Perform rating, but are raising our price target to $400 from $340."
At the time of posting, shares of ISRG were trading pre-market at $412.00, up 7.64% from Tuesday's close.
