Morgan Stanley Sees Expansion Benefits For J.P. Morgan Chase & Co.
In a report published Tuesday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating and $64.00 price target on J.P. Morgan Chase & Co. (NYSE: JPM).
In the report, Morgan Stanley noted, “Overweight JPM on expectations for improving efficiency, rising client wallet share and ultimately higher capital return – all driving upward EPS revisions along with rising ROEs. Lower legal costs, improved efficiency and market share gains drive EPS up 35% in 2015 vs 2013. Lower legal costs drive ~80% of this EPS boost with the remainder largely topline driven. Together, these should boost ROTCE from 11.9% in 2013 to 13.5% in 2015.”
J.P. Morgan Chase & Co. closed on Monday at $54.65.
Latest Ratings for JPM
|Jan 2015||Credit Suisse||Initiates Coverage on||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.