UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Cousins Properties on Updated Estimates

In a report published Wednesday, J.P. Morgan reiterated its Neutral rating on Cousins Properties

, and slightly raised its price target from $8.00 to $9.00. J.P. Morgan noted, “We are updating our model post 4Q earnings and raising our 2013 FFO/share estimate $0.01 to $0.48 and maintaining our 2014 estimate of $0.54. Our 2013 estimate is $0.06 below the Bloomberg consensus and our 2014 estimate is $0.02 below the Bloomberg consensus. Bigger picture, we would note that our forecasted NOI for both 2013 and 2014 has increased due in large part to the company's recently announced Post Oak Central acquisition and Terminus 100 and 200 joint venture activity, offset by lower fee income than we were previously modeling. We are also raising our year-end 2013 target price from $8 to $9.” Cousins Properties closed on Tuesday at $10.16.