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
|Apr 2015||Keefe Bruyette & Woods||Maintains||Market Perform|
|Apr 2015||Bernstein||Upgrades||Market Perform||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.