J.P. Morgan Raising Price Target On Solera After Earnings (SLH)

J.P. Morgan is raising its price target on Solera Holdings (NYSE: SLH) to $47 from $42, and reiterating its Overweight rating after the company reported better than expected earnings.

J.P. Morgan goes on to say that it likes the company's dependability. In a note to clients, J.P. Morgan writes, "Cash EPS and adjusted EBITDA F2011 guidance was in-line with consensus while revenue guidance was slightly above consensus and our estimate. We think guidance is conservative. Business trends seem stable, with modest signs of improvement. We continue to like SLH's consistency, significant market opportunity, and management team. We are establishing a December 2011 target of $47."

Shares of Solera loss 44 cents in Thursday trading, to close at $39.35.

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