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

J.P. Morgan released a research report on Post Properties Inc

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.