Market Overview

JP Morgan Shares Rally Following Raymond James Upgrade to Strong Buy

Share:
Related JPM
New King Digital IPO Lawsuit Targets JP Morgan, Bank Of America, Credit Suisse
New York Fed Creates Cybersecurity Team
Pleasant surprise may in store in bank earnings in April (Seeking Alpha)

JP Morgan (NYSE: JPM) earlier received an upgrade from Raymond James' Anthony Polini. The analyst now rates JP Morgan shares a Strong Buy, up from Outperform previously. Polini's price target on JP Morgan was raised from $55 to $64, implying 20 percent upside from the current share price.

Polini called JP Morgan a top pick for Raymond James.

Polini cited an encouraging EPS growth outlook and lessened concerns over last year's "London whale" debacle.

The Raymond James analyst boosted his 2013 EPS estimate from $5.60 to $5.75 and his 2014 estimate from $5.75 to $6.00. The Wall Street consensus for FY13 currently sits at $5.73, while the FY14 consensus sits at $5.97.

Shares of JP Morgan are up nearly 2.7 percent to $53.50 about an hour into Tuesday's trading session.

Latest Ratings for JPM

DateFirmActionFromTo
Mar 2015OppenheimerMaintainsOutperform
Feb 2015CitigroupMaintainsBuy
Jan 2015JefferiesMaintainsBuy

View More Analyst Ratings for JPM
View the Latest Analyst Ratings

Posted-In: Analyst Color News Upgrades Price Target Analyst Ratings

 

Related Articles (JPM)

Around the Web, We're Loving...