UPDATE: J.P. Morgan Color On CAH Target Increase

J.P. Morgan, which raised its PT on shares of Cardinal Health, Inc. CAH, is providing some color on the stock. “After Cardinal reported a stronger than expected F3Q11 late last week (EPS of $0.75 vs. JPM est. of $0.68 and Bloomberg consensus of $0.69) we have adjusted our model to incorporate the quarter and continued strong growth outlook for Cardinal,” J.P. Morgan writes. “We now project F2011 EPS of $2.66 (up from $2.58) and F2012 EPS of $3.02 (up from $2.94). Our F2011 estimate of $2.66 is at the upper end of the updated guidance range of $2.61 - 2.67 (up from $2.54 - 2.60).” Cardinal currently trades at $44.07.