UPDATE: J.P. Morgan Lowers Investment Technology Group's PT

According to a research report published this morning, J.P. Morgan has lowered Investment Technology Group's

PT from $13 to $12. In the report, J.P. Morgan commented, "ITG reported 1Q diluted EPS of $0.14, beating consensus by a penny. ITG is still trying to make the best of a weak trading environment, introducing new products internationally to gain market share while US earnings continue to remain at depressed levels. It is still buying back stock and managing costs well, but earnings will remain depressed until US volumes normalize." J.P. Morgan maintains its Overweight rating on Investment Technology Group, which is currently trading at $9.55.