J.P. Morgan Changes its Monthly Top 3 Applied and Emerging Tech Stocks

With the start of a new month comes a new "Monthly Top 3" for J.P. Morgan's Applied and Emerging Tech favorites. This month, analysts added Digital Globe, Inc. DGI, EnerNOC, Inc. ENOC and Zoran Corporation ZRAN to its Monthly Top 3. These stocks take the place of Itron, Inc. ITRI, NCR Corporation NCR and Nice Systems Ltd. NICE. Despite their removal, J.P. maintained their Overweight rating for each of the stocks. J.P. stated that the "EnhancedView contract is expected to be awarded in late June/July, which could be a catalyst for DGI shares." They gave a price target of $34.50. As for ENOC, J.P. cited its PJM BRA results as "revealing a better than expected Demand Response pricing environment and increased market share for ENOC" as well as its strong results in the first quarter. Rounding out the group was Zoran, who J.P. cautiously endorsed despite "DTV inventory overhang" that is "expected to carry over to [the second quarter] and combine with ASP declines in the segment, yielding disappointing [second quarter of 2010] guidance." J.P. said that while "we maintain our Overweight rating for" ITRI, NCR and NICE, they "believe better near-term opportunities can be found elsewhere in our coverage universe. ITRI remains our Applied and Emerging Tech Top Pick for 2010."