UPDATE: JP Morgan Raises PT to $76 on Minerals Technologies

JP Morgan increases its price target from $74 to $76 on Minerals Technologies

as the small cap company outperforms the S&P 500. JP Morgan comments, "MTX is one of the small-capitalization industrial names to outperform the S&P 500 index (by 600 bps year to date). MTX shares increased 16% since the beginning of the year from $57 to $66. The S&P 500 index lifted 10% over the same period from 1,258 to 1,388. We believe MTX's unleveraged balance sheet, its diligence in reducing costs and reining in capital spending, and its success in improving returns on capital have led to the relative outperformance. The valuation remains attractive both on a relative and on an absolute basis." MTX closed at $65.50 on Thursday.