Market Overview

A Few Stocks To Look At Amid JPMorgan Post-Earnings Downgrade

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Analysts at HSBC downgraded JPMorgan Chase & Co. (NYSE: JPM) from Neutral to Underweight, and trimmed their price target from $61 to $55.50 after the company posted decreasing profit on the back of higher-than-expected legal charges and increasing reserves for loans that could sour.

Related Link: Update: JPMorgan Posts Lower Q4 Profit

Credit Suisse initiated coverage on Bank of America Corp (NYSE: BAC) with an Overweight and a $21 price target, while Barclays maintained a Hold and a $20 price target.

Guggenheim Securities also weighed in on the stock on December 16, rating it as a Buy with a $20 price target.

Small-Cap Options

Texas Capital Bancshares Inc (NASDAQ: TCBI) saw Barclays reiterate an Overweight rating on Tuesday, setting a price target of $57.

On Monday, Wunderlich issued a report on southern regional banks and rated Texas Capital Bancshares as a Buy, fixing the price target at $75. Moreover, on December 11, Jefferies also issued a Buy with a $63 price target.

The stock trades below $45.

On January 6, Barclays recommended two more banks: First Interstate BancSystem Inc (NASDAQ: FIBK) and Capital Bank Financial Corp (NASDAQ: CBF). The research firm reiterated Overweight ratings for both stocks, respectively accompanied by price targets of $31 and $28.

Latest Ratings for TCBI

DateFirmActionFromTo
Feb 2020UBSUpgradesSellNeutral
Jan 2020RBC CapitalMaintainsSector Perform
Jan 2020WedbushMaintainsNeutral

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Related Articles (TCBI + BAC)

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Posted-In: Barclays Credit Suisse Guggenheim Securities HSBC JefferiesLong Ideas Analyst Ratings Trading Ideas

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