J.P. Morgan Reiterates Overweight Rating on TeleCommunication Systems
In a report published Monday, J.P. Morgan & Co. reiterated its Overweight rating on TeleCommunication Systems (NASDAQ: TSYS).
J.P. Morgan noted, “We are adjusting estimates, raising 4Q EBITDA and EPS slightly owing to potential for expense containment relative to our expectations, and we have made CY13 revenue and earnings more back-end loaded to reflect the potential for delays in DoD funding. Risk-reward remains favorable, in the context of potential flow of high-margin settlements or royalties originating in the firm's IP licensing initiatives. Maintain Overweight.”
TeleCommunication Systems closed on Friday at $2.36.
Latest Ratings for TSYS
|Sep 2014||Ladenburg Thalmann||Initiates Coverage on||Buy|
|Jul 2013||Noble Financial||Downgrades||Buy||Hold|
|Aug 2012||JP Morgan||Upgrades||Neutral||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.