UPDATE: J.P. Morgan Upgrades Pall Corporation from Neutral to Overweight and Lowers PT from $57 to $55

J.P. Morgan has published a report on Pall Corporation PLL upgrading the company from Neutral to Overweight. In the report, J.P. Morgan wrote, "Shares in the Materials sector have moved sharply lower as the market has become more concerned over cyclical risk. We believe the downward movement in less cyclical Pall shares was accelerated by a meaningful takeover premium that was built into the shares being removed." J.P. Morgan upgraded Pall Corporation from Neutral to Overweight and lowered the price target from $57.00 to $55.00. Pall Corporation closed Thursday at $44.99.