J.P. Morgan Overweight On VanceInfo Technologies (VIT)

J.P.Morgan Chase & Co rates shares of VanceInfo Technologies

at Overweight and has a $25 price target as the company is set to report earnings tomorrow before the bell. In a research note to clients J.P.Morgan Chase & Co writes, "We expect VIT to meet our expectations of US$48.5Mn in revenues and US$0.15 in GAAP EPS and consensus expectations of US$48.4Mn in revenues and US$0.16 in GAAP EPS for 2Q10. VIT guided 2Q10 net revenues to be between US$47.5Mn to US$48.5Mn, implying up 7–9% QoQ or up 37-40% YoY. 2Q10 GAAP diluted EPS guidance to be between US$0.15 - US$0.16." Shares of VanceInfo Technologies are down 7 cents in early Monday trading to $26.33.