Nomura Initiates Coverage on JPMorgan at Neutral, $61.00 PT - JPMorgan Chase (NYSE:JPM)

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In a report published Thursday, Nomura analyst Steven Chubak initiated coverage on JPMorgan Chase & Co. (NYSE: JPM) at Neutral, with a $61.00 price target. According to the report, JPM's earnings profile/mix are favorable, but the current capital shortfall should dampen near-term return prospects. “Pressures in FICC and Mortgage Banking should also limit revenue growth, with few opportunities on the cost side given already best-in-class efficiency ratios,” the report noted.Some highlights from the report included:-Our forecasts indicate mid-cycle ROE potential of ~14%, supporting modest potential upside to shares. -FY13E EPS at $4.31.-FY14E EPS at $5.38.JPM closed Wednesday at $58.68.

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