J.P. Morgan Maintains Overweight on Taubman Centers (TCO)

J.P. Morgan is out with its report today on Taubman Centers TCO, maintaining Overweight. In a note to clients, J.P. Morgan writes, "Management raised the lower-end of its 2011 FFO guidance in its release, but if trends continue we would not be surprised to see additional positive updates to guidance during the course of the year. The press release did not highlight anything on the development front, but we expect to hear on tomorrow's call that management continues to make progress toward one or two outlet announcements. Net-net, heading into Thursday's call, we remain constructive on TCO as Q1 trends support our thesis on the stock." J.P. Morgan has a $57 PT on TCO. Shares of TCO closed Wednesday at $56.12, up 1.39% from Tuesday's close.