JPMorgan Chase & Co. Rating Increased to Buy at Nomura (JPM)
JPMorgan Chase & Co. (NYSE:JPM) was upgraded by equities researchers at Nomura from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
JPMorgan Chase & Co. (NYSE:JPM) opened at 59.67 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $50.06 and a 52-week high of $61.48. The stock’s 50-day moving average is $57.96 and its 200-day moving average is $57.15. The company has a market cap of $224.4 billion and a price-to-earnings ratio of 15.26.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.60 earnings per share. JPMorgan Chase & Co.’s revenue was down 3.0% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post $5.52 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on JPM. Analysts at Zacks reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, August 28th. They now have a $62.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of JPMorgan Chase & Co. from $64.00 to $65.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, 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, July 21st. They now have a $70.00 price target on the stock, up previously from $55.00. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $61.72.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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