UPDATE: J.P. Morgan Color On V Target Increase

J.P. Morgan, which raised its PT on shares of Visa V, is providing some color on the stock. “We are updating our estimates for faster volume growth and a lower share count,” J.P. Morgan writes. “Our FY11, FY12 and FY13 estimates go to $4.92, $5.72 and $6.55, respectively, from $4.86, $5.52 and $6.25. “Our estimates call for 13% revenue growth in FY11 and 9% compounded growth in FY12 and FY13. Our estimates assume debit network fees gradually decline, beginning in FY12, in response to proposed interchange regulation.” Visa closed Thursday at $78.70.