UPDATE: JP Morgan Upgrades General Dynamics to Overweight

JP Morgan has upgraded General Dynamics

from Neutral to Overweight and has raised the price target from $71 to $75 in a research report published today. In the report, JP Morgan states, "GD's trading premium evaporated in 2011 for a number of reasons, but we expect 2012 to be a better year from a relative performance standpoint. We look for Gulfstream to have a strong year as the G650 successfully enters service, and the final milestones on this front should serve as catalysts for the stock." Shares of General Dynamics are trading at $68.06, up 0.09% from yesterday's close.