UPDATE: JP Morgan Upgrades Intuitive Surgical to Overweight on Long-Term Opportunities

JP Morgan raised its rating on Intuitive Surgical

from Neutral to Overweight and increased its price target from $610 to $625. JP Morgan noted, "While there are clearly some headwinds to the Intuitive Surgical (ISRG) story, notably the recent dVP decline and industry-wide European challenges, we find the risk/reward increasingly compelling, in light of the meaningful opportunities emerging in partial nephrectomy, cholecystectomy, colorectal surgery and other areas (thoracic, etc.) – which, collectively, should more than offset the dVP softness and drive upside to Street estimates for the next several years." Intuitive Surgical closed at $494.58 on Friday.