JPMorgan (NYSE:JPM) Upgrades Jacobs Engineering (NYSE:JEC)

Jacobs Engineering Upgraded by JPMorgan

Jacobs Engineering (NYSE:JEC) received a nice bounce later in the day after JPMorgan (NYSE:JPM) upgrdded the stock from "Neutral" to "Overweight."

Reasons cited by analyst Scott Levine were higher margins than its competitors, probable increased construction demand, and a strong balance sheet.

The strong balance sheet offers Jacobs and opportunity to grow through acquisitons, and also to expand into new markets, according to Levine.