UPDATE: J.P. Morgan Lowers Price Target on Plantronics to $41

According to J.P. Morgan, Plantronics

price target is lowered to $41. J.P. Morgan said that it is trimming 1HCY12 revenue and EPS estimates for PLT slightly, to reflect a potential slowdown in demand originating in the sovereign debt crisis in EMEA and its impact on enterprise IT spending, near-term. “Our longer-term, constructive thesis for PLT – centered primarily on UC headset adoption – is unchanged, however we do believe there is near-term cyclical risk that could weigh on the stock, and we are concerned that investors are overly focused on UC. Price Target goes to $41. Maintain Neutral.” Plantronics closed yesterday at $33.93.