UPDATE: J.P. Morgan Raises Harman International PT
According to a research report released earlier today, J.P. Morgan increased Harman International's (NYSE: HAR) PT from $56 to $57 following a solid F2Q beat.
In the report, J.P. Morgan commented, “The introduction of entry-level infotainment system in two-wheelers holds promising potential for four-wheelers application, particularly as it relates to the US market where NHSTA rear view camera display legislation could expand addressable market in low-end market segment. Maintain Overweight, reflecting long-term growth and margin expansion potential. We tweak our price target to $57 from $56 and estimates to $3.13 in F2012 (vs. $2.80 earlier), $3.80 in F2013 (vs. $3.75 earlier) and $4.30 in F2014 (vs. $4.20 earlier).”
Harman International closed yesterday at $44.51.
