J.P. Morgan Raising Estimates On Alliance Data

According to J.P. Morgan, Alliance Data ADS estimates are raised. J.P. Morgan said that Alliance Data reports 1Q11 results before the market opens on April 21st (JPM/Street at $1.80/$1.67). “We expect strong results and tone, highlighted by improved Air Miles issuance and consumer credit trends. The latter we believe will ultimately fuel positive guidance revisions (at some point in the coming months). In our view, it's not a question of “if” management will raise its fullyear outlook, but “when,” and just how much of their credit loss provision they release. We remain Neutral, but are raising our estimates and Dec '11 PT to $79 (from $78). We like shares into the print.” Alliance Data closed yesterday at $83.91.