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Fly News Breaks for April 19, 2017
ISRG
Apr 19, 2017 | 06:49 EDT
Citi analyst Amit Hazan raised his price target for Intuitive Surgical to $917 from $820 following last night's Q1 results. The stock in premarket trading is up 4%, or $29.41, to $788.75. The 18% procedure growth far exceeded estimates while system placements beat by 11 units, Hazan tells investors in a post-earnings research note. The 2017 procedure growth guidance raise to 12%-14% from 9%-12% is a "clear show of confidence for this conservative management team this early in the year," the analyst contends. Hazan keeps a Buy rating on the name.
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