TD Cowen Starts Coverage of Intuitive Surgical With Buy, Sees Extended Da Vinci 5 Product Cycle
TD Cowen has begun coverage of Intuitive Surgical with a Buy rating and a $660 price target, arguing the da Vinci 5 launch will create a prolonged product cycle. The firm expects both growth in installed fleets and replacement-led redeployment of prior-generation systems into price-sensitive markets, which it believes will broaden access and lift o…