UPDATE: J.P. Morgan Raises CNH Global's PT

According to a research report published this morning, J.P. Morgan has increased CNH Global's

PT from $45 to $50. In the report, J.P. Morgan said, "CNH (N) posted an upside Q1'12 earnings report with EPS of $1.11; the stock was up 3% vs. S&P 500 up 1%. CNH reported EPS of $1.11 (lower tax rate helped by $0.03 vs. our estimate), vs. consensus of $0.74 and JPMe of $0.75. CNH's 2012 guidance is unchanged for revenue to increase 5%, with operating profits in excess of 8.6%, implying a FY EPS of ~$4.00 at minimum (vs. prior consensus $4.29). Importantly, on the Fiat Industrial Q1'12 conference call, management noted that it continues to explore options for CNH minority shareholders, but no firm plans have been made." J.P. Morgan maintains its Neutral rating on CNH Global, which closed yesterday at $45.58.