UPDATE: J.P. Morgan Lowers PT on Minerals Technologies to $65

J.P. Morgan is out with its report today on Minerals Technologies

, lowering its PT from $76 to $65. In its report, J.P. Morgan writes, "We rate MTX Overweight. We reduced our December 2012E price target from $76 to $65. MTX's valuation remains attractive on a relative and on an absolute basis. MTX trades at a 4.2x EV/EBITDA multiple based on our 2012 forecast." Shares of MTX closed Friday at $56.99, down 0.09% from Thursday's close.