UPDATE: Morgan Stanley Raises PT on JPMorgan Following 2013 Investor Day
In a report published Wednesday, Morgan Stanley reiterated its Overweight rating on JPMorgan Chase & Co. (NYSE: JPM), and raised its price target from $56.00 to $58.00.
Morgan Stanley noted, “Investor day highlighted market share gains driven by investment spend…in-line with est. Commentary on market structure regulation (derivative clearing, pre/post trade transparency) better than expected as JPM estimated topline hit of $1-2b, below our est of $1.1b-2.8b. Many puts/takes, but JPM is notably ahead of peers in providing a range. Ex Volcker which JPM expects will be reasonable.”
JPMorgan Chase & Co. closed on Tuesday at $47.60.
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