UPDATE: JP Morgan Upgrades TeleCommunication Systems to Overweight on Risk/Reward

JP Morgan increased its rating on TeleCommunication Systems

from Neutral to Overweight as risk/rewards shifts to being favorable. JP Morgan commented, "We believe risk-reward for this micro cap stock has tilted favorably and we are upgrading to Overweight. TSYS is trading at a trough level multiple that seems to adequately discount risks in the commercial segment as well as re-financing risks associated with the convertible debt, so down-side risk is moderating. In the meantime, the government segment appears to be strengthening modestly, the MicroData acquisition positions TSYS well for IP-based E911 deployments, and there are positive catalysts ahead, including the pending GTEC award." TeleCommunication Systems closed at $1.62 on Thursday.