J.P. Morgan Raises EPS Estimates on Bristow Group (BRS)

J.P. Morgan adjusts their EPS estimates on Bristow Group Inc. BRS. In a note to clients, J.P. Morgan writes, "We are raising our FY2011 and FY2012 EPS estimates for BRS to $3.45 (from $3.42) and to $3.83 (from $3.72), respectively to reflect our lower interest expense forecasts following the announcement of the company's intention to redeem its 6.125% notes on December 23. Importantly, we expect BRS to redeem the notes using a combination of its new term loan and revolving credit facility, both of which we anticipate will bear a much lower rate of interest than the 6.125% notes." J.P. Morgan maintains its Overweight rating and increases its price target on BRS from $46 to $49. BRS is trading at $44.90