(Updates RIC in 1st bullet)
** JP Morgan changes prior call on GlaxoSmithKline and lifts British drugmaker's stock to "neutral"
** Earnings expectations now look achievable, pipelinereview suggests upcoming R&D day has positive risk/reward andstock's 6-pct dividend yield provides near-term support with acut unlikely for next 12 mths, analysts write in note
** Broker raises PT slightly to £13.70 (June 2016) from£13.20, implying 5-pct upside to stock's current levels
** Most of reasons for GSK downgrade at beginning of 2015 to"underweight" now priced into the shares, analysts say
** Expect well-anticipated Phase 3-go decisions, discussionof early-stage oncology pipeline and focus on partnered assetsat Nov 3 R&D day
** Of 31 brokers covering stock, 6 recommend buying, 20 areneutral and 5 recommend selling; median PT lowered nearly 6 pctover last 3 mths
** U.S.-listed shares currently trading up 0.2 pct at$40.31; Shares closed down 0.3% at 1,306.65 pence on the LondonStock Exchange (RM: lance.tupper.thomsonreuters.com@reuters.net)