ISI Group Reiterates JP Morgan Chase Buy, $47 PT

ISI Group reiterates JP Morgan Chase's (NYSE: JPM) Buy rating and $47 price target as the company's 4Q 2011 EPS of $0.90 beat its expectations.

In the report, ISI Group writes, "JPM remains one of our top bank picks and valuation still looks attractive as our $47 PT implies significant upside and is based on a weighted avg. of just 8x our 2013 EPS est."

Shares of JP Morgan Chase are trading at $35.46, down 3.77% from yesterday's close.