UPDATE: JP Morgan Raises PT to $43 on American Campus Communities

JP Morgan raises its price target $3 to $43 on Neutral-rated American Campus Communities

following Q4 results. JP Morgan says, "We are raising our FFOM (funds from operations – modified) estimates following ACC's 4Q results. Specifically, we are raising our full year 2012 and 2013 FFOM estimates by $0.07 each, to $2.02 and $2.18, respectively. Our new 2012 estimate is in line with the Bloomberg consensus and towards the upper end of management's $1.94-2.05 guidance. Our 2013 estimate is $0.07 below the Bloomberg consensus. The higher estimates are due in large part to higher NOI than we previously assumed, largely due to recent acquisitions that were in excess of what we had been assuming." ACC closed at $41.13 a share on Friday.