UPDATE: J.P. Morgan Raises VeriSign's PT

According to a research report published earlier today, J.P. Morgan has increased VeriSign's

PT from $38 to $40. J.P. Morgan commented in the report, “We are raising our 1Q12 net add estimate to 2.75M up from 2.5M as sources indicate better traction through the quarter. This adds ~$2M in revenue to both FY12 and FY13, and a penny of EPS. Beyond the core business, we expect VeriSign to discuss capital deployment (share repurchases), progress on new gTLDs (generic top level domains), and developing businesses like NIA (Network Intelligence & Availability).” J.P. Morgan maintains its Neutral rating on VeriSign, which closed yesterday at $39.00.