Analyst Predicts Attractive Risk/Reward for JPMorgan Chase & Co Despite Back-to-Back Outperformance

Bank of America's Ebrahim Poonawala raised their price target on Jpmorgan Chase & Co (NYSE: JPM) by 6.2% from $177 to $188 on 2024/01/04. The analyst maintained their Strong Buy rating on the stock.

Ahead of the release of JPMorgan Chase & Co's Q4 and FY 2023 earnings report, Poonawala expressed optimism about the stock's potential. In spite of two years of back-to-back outperformance, the analyst believes that JPMorgan Chase offers an attractive risk/reward to add exposure to U.S. banks. Poonawala noted that the bank's management has consistently utilized its scale to its advantage, defying those who view its relative size as an obstacle to achieving superior growth.

Currently, 66.7% of top-rated analysts rate JPMorgan Chase & Co as a Strong Buy or Buy, while 33.3% see it as a Hold. Notably, no analysts recommend or strongly recommend selling the stock.

Analysts have a consensus forecast that JPMorgan Chase & Co's upcoming year will deliver earnings per share (EPS) of $15.52. If their predictions hold true, the bank's next yearly EPS will be down by 7.5% on a year-over-year basis.

In terms of performance, JPMorgan Chase & Co's stock price has seen an 18.2% increase since its last quarterly report on 2023/09/30. On a year-over-year basis, the stock is up 25.7%. During this period, JPMorgan Chase has outpaced the S&P 500, which has seen a 21.7% increase.

Ebrahim Poonawala, the Bank of America analyst who raised the price target on JPMorgan Chase & Co, is ranked in the top 18% of Wall Street analysts by WallStreetZen. With an average return of 6.7% and a win rate of 59.2%, Poonawala specializes in the Financial Services sector.

JPMorgan Chase & Co operates in various divisions, including consumer and commercial banking, investment banking, financial transaction processing, and asset management solutions. The company offers a range of services, such as credit cards, small business loans, auto finance, education finance, merchant services, middle market banking, business credit, equipment finance, and commercial term lending. Additionally, JPMorgan Chase provides corporate client banking, as well as government, not-for-profit, and healthcare banking. Founded in 1799 and headquartered in New York, NY, JPMorgan Chase & Co has a long-standing presence in the financial industry.

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