JPMorgan Raises 2011 S&P 500 Estimate to 1,475 Citing Earnings

JPMorgan Chase & Co. (JPM) raised its 2011 year-end estimate for the Standard & Poor’s 500 Index to 1,475 from 1,425 citing first-quarter earnings growth.

Thomas J. Lee, JPMorgan’s chief equity strategist, also boosted his 2012 earnings-per-share estimate for the U.S. equity benchmark gauge to $105 from $102.

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