UPDATE: J.P. Morgan Lowers PT on RealD to $30

J.P. Morgan is out with its report today on RealD (NYSE: RLD), lowering its PT from $31 to $30.

In a note to clients, J.P. Morgan writes, "We are raising revenue estimates through 2012 on strong international box office, but we are reducing EBITDA. We continue to expect the stock to out-perform as we get closer to the release of Harry Potter in 3D in July. Our December 2011 Price Target goes to $30.00. Maintain Overweight."

Shares of RLD closed Thursday at $24.07, up 0.84% from Wednesday's close.