UPDATE: J.P. Morgan Lowers Price Target On Stanley Black & Decker To $73

According to J.P. Morgan, Stanley Black & Decker (NYSE: SWK) price target is lowered to $73.

J.P. Morgan said that it was restricted on Stanley Black & Decker (SWK) due to J.P. Morgan's involvement in the Niscayah transaction announced on June 27, 2011. “We note these assumptions largely drive our EPS estimates of $5.24, $6.05 and $6.90 in 2011, 2012 and 2013, respectively, which we note is roughly in-line with Street consensus of $5.23, $6.05 and $6.92.”

Stanley Black & Decker closed yesterday at $57.02.