UPDATE: J.P. Morgan Lowering Price Target On DTS

J.P. Morgan Chase & Co. is out with a research report on DTS, Inc.

and it is lowering its price target to $26 from $29, but keeping its Underweight rating. In an note to clients, J.P. Morgan writes, "We are trimming estimates slightly to reflect our view that CE demand is weakening relative to prior expectations. We are reducing the DTSI Price Target to $26.00." Shares of DTSI gained 23 cents yesterday to close at $30.95.