J.P. Morgan Sets Intuitive Surgical Price Target at $700, Highest on Street - Intuitive Surgical (NASDAQ:ISRG)

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On Wednesday, J.P. Morgan set a price target of $700, the highest on the Street, on shares of

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Intuitive Surgical

(NASDAQ: ISRG) and upgraded the stock from Market Underperform to Market Outperform.Analyst J.T. Haresco believes a large share of the company's prior models in the United States will be replaced in favor of da Vinci Xi as the auto-deployment feature will cut setup time.Revenue growth could increase to 16 percent from 0.3 percent from demand for the new system, the analyst said.Details on the new da Vinci Xi surgical system can be found here.Shares of Intuitive are up another 3.5 percent to $510.88 after gaining 12 percent on Tuesday. Haresco's $700 price target implies 37 percent upside from current levels.