UBS: Neutral On JP Morgan, Goldman Sachs And Morgan Stanley Results 'Could Be Pretty Positive'

JPMorgan Chase & Co. JPM declared its second quarter earnings earlier on Tuesday. The company declared an EPS of $1.54, versus analysts' estimates of $1.44.

UBS analyst, Brennan Hawken, was on CNBC recently to discuss why he has a Neutral rating on the stock with a $65 price target and whether he will be revising it.

Price Target And Rating Revision On Cards?

"We revisit our price targets every quarter, right? And so, we will be taking a look at that today. And thinking about with the Fed about to raise maybe we use a moderately higher multiple just for the banks broadly, just because we need to start to think about markets pricing in a little bit more juice on the NII side from higher rates."

He continued, "So, I don't know whether I would look too closely at the price target per se. The reason I am neutral on JP Morgan really more has to do with the fact - stock is near all-time highs, there are other names that, I think, are just more intriguing. When we think about what happened today and what that might mean for the rest of the space FICC was light...the bond trading line, equities was remarkably strong."

Goldman Sachs And Morgan Stanley Results

"The two names that have a lot more exposure and leverage on that front - Morgan Stanley MS and then Goldman Sachs Group Inc GS as well. I think that we have got Goldman on Thursday, we have got Morgan Stanley on next Monday, those results could be pretty positive and these results bear well for those stocks," Hawken concluded.