Citi downgraded Intuitive Surgical (ISRG) to Neutral from Buy with a price target of $635, down from $650. The firm adjusted ratings and targets in the medical technology sector as part of its 2026 outlook. The group is “bouncing off its lows,” and there is further upside potential in 2026, the analyst tells investors in a research note. Citi believes the S&P Equipment and Supplies index “remains undervalued and underappreciated.” The firm expects a rebound next year due to company catalysts and sector rotation.
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