Morgan Stanley Sees Decent Upside for J.P. Morgan Chase
In a report published Wednesday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating and $68.00 price target on J.P. Morgan Chase & Co. (NYSE: JPM).
In the report, Morgan Stanley noted, “Raising EPS estimates by 3c and 22c in 2014-15, largely on credit losses that are lower for longer. Stock looks cheap at 8.2x 2015e P/E. We see 19% upside to our $68 price target. Market pricing in 11% ROTCE, below our 14.7% est in 2015 and vs. mgmt's 15-16% through the cycle target.”
J.P. Morgan Chase & Co. closed on Tuesday at $57.03.
Latest Ratings for JPM
|Jul 2014||FBR Capital||Upgrades||Market Perform||Outperform|
|Jul 2014||Portales Partners||Upgrades||Underperform||Outperform|
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