UPDATE: J.P. Morgan Downgrades Carpenter Technology to Neutral on Slowing Growth

In a report published Friday, J.P. Morgan analyst Michael F. Gambardella downgraded the rating on Carpenter Technology Corporation (NYSE: CRS ) from Overweight to Neutral, and lowered the price target from $65.00 to $55.00. In the report, Gambardella noted, “We are lowering our price target to $55 from $65 to