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J.P. Morgan Raises PT From $32 To $34 And Increases Earning Estimates

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J.P. Morgan released a research report on Post Properties Inc (NYSE: PPS) announcing an increase in earning estimates and an increase in the price target.

In the report J.P. Morgan writes, “We are increasing our earnings estimates largely as a result of stronger-thanexpected condo sale gains in 2Q, as well as stronger core performance. We are increasing our 3Q11, 2011, and 2012 FFO estimates to $0.44, $1.85, and $1.99/share from $0.43, $1.71, and $1.89/share following the 2Q11 result. Our revised 2011 estimate reflects about $0.14/share of condo gains (relative to management guidance of $0.14-0.18/share in projected gains). Our estimate sits a penny above the high end of the latest published guidance range of $1.75- 1.84/share, inclusive of condo gains.”

J.P. Morgan has an Underweight rating and an increased price target from $32.00 to $34.00 on Post Properties Inc, which is currently trading at $42.72.

 

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Posted-In: J.P. MorganAnalyst Color Price Target Analyst Ratings

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