Morgan Stanley Sees Good Market Position For JPMorgan Chase & Co.

In a report published Wednesday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating and $76.00 price target on

. In the report, Morgan Stanley noted, “We took EPS down 1% after an in-line qtr on lower rates and JPM's exit from physical commodities. We believe JPM has more back-pocket in CIB/Corporate expenses which will drive positive operating leverage in 2015. Our $76 PT is based on 1.1x 2016 BVPS, on an ROE of 10.9%, implied P/E of 11x.” JPMorgan Chase & Co. closed on Tuesday at $57.99.