J.P. Morgan Raises Price Target On TNS (TNS)

J.P. Morgan Chase & Co. is raising its price target on TNS, Inc. TNS to $25 from $24 and Overweight rating, after it reported earnings. In the research note sent to investors J.P. Morgan writes, "TNS reported 3Q10 adjusted EPS of $0.52 (JPM/Street at $0.56/$0.54) inclusive of ~$0.03 in incremental foreign currency translation/revaluation headwinds, which weren't contemplated in consensus estimates or prior guidance. Excluding these items, we believe 3Q10 results were slightly ahead of consensus estimates and toward the high end of prior guidance. We are trimming estimates, primarily for FX and the Cequint acquisition, and establishing a Dec 11 price target of $25." Shares of TNS gained 12 cents yesterday to close at $19.26, a gain of 0.65%.