UPDATE: J.P. Morgan Lowers PT on TRW Automotive

J.P. Morgan is out with its report today on TRW Automotive

, lowering its PT from $74 to $70. In its report, J.P. Morgan writes, "We maintain our Overweight rating given TRW's prudent balance sheet management and aggressive cost containment. We see the stock as a hidden growth story and see potential for a ~$85 upside case over two years. We continue to believe that revenue growth may accelerate beyond 2012 as automakers attempt to reduce the weight of vehicles by potentially adopting electric products (e.g., brakes and steering). Our Dec 2011 price target of $70 applies a 5.25x EV/EBITDAP multiple to our 2012 EBITDAP estimates." Shares of TRW closed Wednesday at $48.53.