J.P. Morgan Raises Limited Brands Estimates; PT Goes To $37

J.P. Morgan is raising its Limited Brands, Inc. LTD 2010/2011 EPS estimates to $1.95/$2.20 (from $1.90/$2.14). “[Our] Dec 2011 PT is raised to $37 (from $35 prior) based on 16-17x our upwardly revised 2011 estimate,” J.P. Morgan writes. “We currently view shares favorably given top-line momentum and a visible margin recovery story that should continue into 2011 and beyond.” Limited Brands currently trades at $33.26.