Market Overview

UPDATE: Deutsche Bank Upgrades JP Morgan Chase to Buy on Long-Term Loan Growth Outlook

Share:
Related JPM
What's Fueling Cybersecurity Stocks?
Earnings Heat Up: Here's Everything You Need To Know This Morning
Visa, MasterCard Earnings On Tap, But China In Focus (Investor's Business Daily)

Deutsche Bank upgraded JP Morgan Chase (NYSE: JPM) from Hold to Buy and raises the price target from $48.00 to $53.00.

Deutsche Bank said, "JPM shares have lagged other market sensitive banks by 30% since the sharp run up in the group that began in early August (likely due to macro optimism and related strength in higher beta stocks, as well as lower CCAR expectations at JPM). But JPM now trades in line on our 2013E and at a discount on our 2014/15e. We expect JPM to highlight $3-5b of cost saves at its investor day (2/26)—half should be incremental to what's known so far. Longer term, we think JPM is the best-positioned market sensitive bank for a pickup in consumer loan growth. Raising 2014E to $5.83 and 2015E to $6.27."

JP Morgan Chase closed at $46.37 on Thursday.

Latest Ratings for JPM

DateFirmActionFromTo
Apr 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Apr 2015MacquarieMaintainsOutperform
Apr 2015BernsteinUpgradesMarket PerformOutperform

View More Analyst Ratings for JPM
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (JPM)

Around the Web, We're Loving...