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JPMorgan Is 'The LeBron James Of Banking'

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JPMorgan Is 'The LeBron James Of Banking'

The "LeBron James of banking" is how analysts described JPMorgan Chase & Co. (NYSE: JPM) after coming off a strong third-quarter report that saw a earnings and revenue beat.

"JPMorgan showed again that it is the LeBron James of banking given both defense, including lower QoQ credit losses and good efficiency; and offense, including 8 percent YoY higher revenue with double digit growth in loans and deposits, and likely market-share gains from European investment banks," said CLSA analysts.

JPMorgan is seeing momentum on both sides of the floor.

Related Link: How Did The Big 4 Do In Q3?

Offense

    1. Spread revenue increased 2 percent.
    2. Market sensitive revenue increased 6 percent.

Defense

    1. Credit remains favorable.
    2. Charge-offs declined to 51bps but still much better than long-term industry average of 80bps.
    3. Revenue outpaced expenses 8 percent versus 3 percent.

JPMorgan crushed EPS estimates and delivered its best quarter of the year in Q3.

CLSA has a Buy rating on JPMorgan with a $79 price target.

At last check shortly before market close, JPMorgan was down 0.52 percent at $67.17.

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Latest Ratings for JPM

DateFirmActionFromTo
Sep 2020RBC CapitalMaintainsOutperform
Sep 2020Deutsche BankUpgradesHoldBuy
Jul 2020Atlantic EquitiesUpgradesNeutralOverweight

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