JPMorgan Chase & Co. PT Raised to $65.00 (JPM)
Stock analysts at RBC Capital boosted their target price on shares of JPMorgan Chase & Co. (NYSE:JPM) from $64.00 to $65.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 9.85% from the stock’s previous close.
A number of other firms have also recently commented on JPM. Analysts at Nomura raised their price target on shares of JPMorgan Chase & Co. from $62.00 to $64.00 in a research note on Monday. Separately, analysts at FBR Capital Markets upgraded shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating in a research note on Monday. They now have a $70.00 price target on the stock, up previously from $55.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. They now have a $60.50 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $61.76.
In other JPMorgan Chase & Co. news, General Counsel Stephen M. Cutler sold 43,997 shares of the company’s stock on the open market in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $58.74, for a total transaction of $2,584,383.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 0.29% on Wednesday, hitting $59.17. 9,844,323 shares of the company’s stock traded hands. JPMorgan Chase & Co. has a one year low of $50.06 and a one year high of $61.48. The stock’s 50-day moving average is $57.39 and its 200-day moving average is $57.02. The company has a market cap of $223.7 billion and a P/E ratio of 15.14. JPMorgan Chase & Co. also saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 33,073,670 shares, a decrease of 19.3% from the June 30th total of 40,994,806 shares. Based on an average daily volume of 16,235,455 shares, the short-interest ratio is currently 2.0 days. Approximately 0.9% of the company’s stock are short sold.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings data on Tuesday, July 15th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.26. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post $5.50 earnings per share for the current fiscal year.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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