J.P. Morgan Maintains Neutral on National Financial Partners

J.P. Morgan is out with its report today on National Financial Partners NFP, maintaining Neutral. In its report, J.P. Morgan writes, "While cautious on operating trends, the resumption of deal activity and steady share repurchases should help overall results and lift investor sentiment on the stock. Valuation seems attractive, but NFP is not cheap on a net EPS basis, which we view as a better indicator of profitability than cash EPS." J.P. Morgan maintains a $14 PT on NFP. Shares of NFP closed Monday at $11.41, up 0.71% from Friday's close.