UPDATE: J.P. Morgan Raising Price Target On Cardtronics

J.P. Morgan Chase & Co. is out with a research report on Cardtronics, Inc (NASDAQ:

) and is raising its price target to $26, and is keeping its Overweight rating on shares. In a note to clients, J.P. Morgan Chase & Co. writes, "CATM reported solid 2Q11 results of $147mm/$0.34 versus JPM and Street at $144mm/$0.32 and $144mm/$0.31, respectively. EPS upside versus our model was primarily driven by better gross margins. We remain Overweight and continue to view CATM as an above-average EPS grower with the potential for continued EPS and share upside from solid execution." Shares of CATM lost $1.47 yesterday to close at $21.55.