J.P. Morgan Raises PT and Estimates On OmniVision

According to a recent report, J.P. Morgan has raised the price target on OmniVision Technologies OVTI from $39.00 to $43.00 and increased the EPS estimates from $2.47 to $2.51. These positive changes came after OVTI issued guidance that brackets revenue and earnings expectations. In the report, J.P. Morgan said, "The narrative remains constructive, with higher demand for premium 5MPx+ product that commands higher ASPs and margins, at least through mid-FY11." OVTI closed yesterday at $36.42.