JPMorgan upgraded EVERTEC (NYSE: EVTC) from Underweight to Neutral with a price target of $20.00 (from $15.00).

Analyst Tien-tsin Huang believes the valuation is more fair and that while some uncertainty remains regarding migration and austerity measure, the higher EPS baseline drives an increase to modeled EPS and therefore makes the current valuation more fair.

For an analyst ratings summary and ratings history on EVERTEC click here. For more ratings news on EVERTEC click here.

Shares of EVERTEC closed at $18.50 yesterday.