ISI is out with its report today on JPMorgan Chase JPM, reiterating Buy.
In its report, ISI writes, "JPM remains our top bank pick and valuation still looks very attractive as our $47 PT implies significant upside and is based on a weighted average of just 8x our 2013 EPS estimate and 1.35x our estimate of tang. BV per share of ~$35 by 2Q12 (supported by an ROTCE outlook of 14.5%)."
At the time of posting, shares of JPM were trading at $31.57, down 4.91% from Wednesday's close.
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