UPDATE 1-JP Morgan sees increased markdowns for Deutsche Bank

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Sept 24 (Reuters) - J.P. Morgan Securities increased its expected pre-tax markdowns for Deutsche Bank (DBKGn.DE) to 4.5 billion euros from 3.4 billion euros and cut its 2009 earnings estimate as the bank is expected to raise capital to buy controlling stake in Deutsche Postbank (DPBGn.DE).

Deutsche Bank had won strong investor support on Monday for a 2.2 billion euros ($3.2 billion) issue of new shares to part-fund its purchase of a controlling stake in Deutsche Postbank.

The brokerage cut its 2009 earnings expectation on the company to 7.86 euros a share from 8 euros a share.

It cut its price target on the stock to 76 euros from 80 euros and maintained its "underweight' rating on the stock.

Shares of Deutsche Bank were trading at 54.45 euros at 0941 GMT. (Reporting by Sriram Iyer in Bangalore; Editing by Jarshad Kakkrakandy)