J.P. Morgan Raises Estimates For Coinstar (CSTR)

J.P. Morgan JPM analysts released a report today, upgrading their estimates for Coinstar CSTR after the company presented at the J.P. Morgan Tech conference last week. The analysts said that "we came away with more conviction that the DVD kiosk companies will gain market share from the contraction of DVD rental store outlets." The firm said that they are raising 2011 estimates in order to "reflect our increasingly constructive view of CSTR's medium term prospects." JPM raised their 2011 EPS forecast to $3.06 from $2.65 previously. The analysts, however, reiterated their Neutral rating on the stock, saying that they believe CSTR is trading near fair value. They have a price target of $55.00 on the shares. During the current trading session, CSTR has gained 2.57% to $54.35.