UPDATE: J.P. Morgan Raises PT on Merck & Co. to $44 (MRK)

J.P. Morgan is out with its report today on Merck & Co. MRK, raising its PT from $42 to $44. In a note to clients, J.P. Morgan writes, "We are increasing our MRK sales and EPS estimates following strong 1Q/11 results. Our new estimates are toward the high end of the company's 2011 guidance range. We are raising our PT by $2 to $44. J.P. Morgan maintains Overweight on MRK. Shares of MRK closed Friday at $35.95, up 0.50% from Thursday's close.