JPMorgan Chase (JPM)
Several firms raised their JP Morgan targets today. Barclays Capital raised their target to $425, Morgan Stanley raised their to $377, and Robert W. Baird boosted upped their targetto $312, Truist Financial up to $361. RBC Capital reiterated their Outperform rating with a $370 target. Keefe, Bruyette & Woods also reiterated their Outperform rating.
JPMorgan reported third-quarter net income of $15.3 billion and managed revenue of $50.9 billion, up 8% year over year. Net interest income and markets revenue grew, while its provision for credit losses declined from a year earlier. That breadth supports the positive case. For the next quarter, investors should watch whether revenue growth keeps pace with rising expenses and whether credit costs remain manageable. The differing analyst targets show that strong results have not produced a singular view of the stock’s further upside.
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