** Shares of drugmaker Ultragenyx Pharmaceutical RARE.O rise 2% to $38.75

** JPMorgan raises RARE's target price to $117 from $104

** Believes RARE is uniquely positioned in the long term with a broad and diverse pipeline of orphan disease assets and a highly regarded management team - JPMorgan

** 19 of 20 brokerages rate the stock "buy" or higher, one "hold"; their median PT is $87, according to data compiled by LSEG

** Up to last close, stock had fallen ~10% YTD

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))