UPDATE: Cantor Fitzgerald Upgrades Intuitive Surgical to Buy on Attractive Risk/Reward Profile

In a report published Friday, Cantor Fitzgerald Upgraded shares of Intuitive Surgical (NASDAQ: ISRG) and raises price target to $575 on attractive risk reward profile.

Cantor Fitzgerald said that, “While we certainly understand investor concern over the words "FDA Probe," we see limited risk of this investigation materializing into significant punitive measures against the company. The main criticisms of dVH have not been safety-related but have rather focused on its higher cost relative to outcomes that are equivalent to laparoscopic. But because da Vinci is typically used in more complex cases, the more appropriate comparison is with open surgeries, against which da Vinci has superior outcomes and much lower complication rates. Compared to the >520k dVH procedures in the U.S. over the last five years, the ~10 dVH-related civil suits filed against Intuitive actually speaks well of the company's safety record, in our view.”

Intuitive Surgical shares closed at $509.89 on Thursday.