JPMorgan: The Day After - JPMorgan Chase (NYSE:JPM)

JPMorgan Chase & Co. JPM reported mixed Q3 earnings.

Wall Street firms Macquarie, Buckingham, BMO and Morgan Stanley remain bullish on the stock.

Oppenheimer is concerned by the company’s lack of revenue growth.

On Tuesday, JPMorgan reported core earnings per share (EPS) of $1.29, falling short of consensus estimates. How did the mixed quarter affect Wall Street’s view of the company?

Here’s a look at what five firms have to say about the stock following earnings.

Buckingham

Analyst James Mitchell saw the quarter as mixed for JPMorgan, with NII, NIM and i-banking beating expectations while asset management fees and card fees fell short of expectations.

The firm maintains its Buy rating on the stock.

BMO Capital Markets

Analyst James Fotheringham thought the performance was poor enough for BMO to lower its 2016 EPS forecast by 4.0 percent to $6.54.

However, the firm maintains its Outperform rating on the stock.

Oppenheimer

Analyst Chris Kotowski called JPMorgan “a lumbering giant that can’t seem to move revenues forward.” He pointed out that the company’s reported revenue of $22.6 billion was slightly less than its average Q3 revenue of $22.9 billion since 2009.

The firm maintains its Perform rating on the stock.

Morgan Stanley

Analyst Betsy Graseck called the stock “the best house in a working class neighborhood,” and added that the company will need “flawless execution” to hit Morgan Stanley’s price target of $72. Morgan Stanley expects total capital payout to go from 55 percent in 2015 to 70 percent by 2018.

The firm maintains its Overweight rating.

Macquarie

Analyst David Konrad believes the quarter was “not bad, all things considered” and thinks the performance was good enough for investors to begin rotating back into the stock.

The firm maintains its Outperform rating.

Disclosure: The author has no position in the stocks mentioned.

Image Credit: By Duncan Harris from Nottingham, UK (The JP Morgan Media Centre) [CC BY 2.0], via Wikimedia Commons

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