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 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.