Piper Jaffray Raises Estimates On McGraw-Hill Companies (MHP)

Piper Jaffray is raising its estimates on McGraw-Hill Companies MHP. It has an Overweight rating and a $44 price target on shares. Piper Jaffray writes, "We are boosting our 2010 revenue and earnings estimates fractionally to reflect better-than-expected 4Q debt issuance volumes, partially offset by continuing weakness in the educational publishing market. Our 2011 and 2012 EPS estimates are unchanged. Please see our industry note published concurrently for a more detailed discussion of new issue trends." Shares of MHP lost 4 cents yesterday to close at $37.70.