JP Morgan Chase & Co. (NYSE:JPM) plans to release fourth-quarter earnings results on Jan. 13.
BofA Securities analyst Ebrahim H. Poonawala raised the price forecast to $362 (from $350), while keeping a Buy rating.
The analyst writes that JPMorgan's stock price undervalues its market and tech leadership, strong profitability (~20% ROTCE), and ample capital (300+ bps CET1), which together fuel growth, client expansion, and a competitive edge.
Poonawala believes that JPMorgan's strong performance under CEO Jamie Dimon, combined with structural regulatory changes, has significantly strengthened the bank's competitive position.
This makes today's environment unlike any in the past two decades since the 2004 merger with Bank One, the analyst adds.
2026 Analyst Estimates
The analyst forecasts $95 billion in core net interest income (excluding $6 billion in markets NII) and 6% total revenue growth in 2026, with temporary negative operating leverage as management continues prioritizing franchise investments.
JPM's NII guidance has historically been conservative, and the analyst expects the same barring major rate cuts.
Poonawala revised FY26 EPS slightly to $21.60 from $21.62, and fourth-quarter EPS to $4.97 from $4.87, reflecting modestly weaker investment banking revenue (+low-single-digit YoY) offset by strong trading performance (+low-teens YoY).
JPM Coin Launch
On Wednesday, the company launched JPM Coin on the Canton Network, marking the deposit token's second deployment on a permissionless blockchain after going live on Coinbase Global Inc.'s (NASDAQ:COIN) Base network in November 2025.
JPM Price Action: JPMorgan Chase shares were down 2.30% at $326.91 at the time of publication on Wednesday. The stock is approaching its 52-week high of $337.25, according to Benzinga Pro data.
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