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

J.P. Morgan, which raised its PT on shares of VMware, Inc. VMW, is providing some color on the stock. “For the JunQ, we increase our non-GAAP EPS estimate to $0.46 (vs. $0.43 prior) on total revenue of $871.6 million (vs. $829.0 million prior),” J.P. Morgan writes. “For 2011, we increase our non-GAAP EPS estimate to $1.91 (vs. $1.81 prior) on total revenue of $3.601 billion (vs. $3.493billion prior). Details of our changes are provided within.” VMware closed Tuesday at $85.97.