UPDATE: JP Morgan Lowers PT to $39.50 on ESCO Technologies

A report from J.P. Morgan reiterates its Neutral rating and lowers the price target from $44 to $39.50 on ESCO Technologies ESE. In the report, JP Morgan writes, “We maintain our Neutral rating owing to a lack of near-term catalysts and believe there could still be potential downside to our estimates if the economy deteriorates further. That said, recent execution has been solid, visibility into 2013 is above average owing to the SoCal Gas contract, and the stock could outperform if the macro outlook improves”. ESE closed yesterday at $29.13.