ISI Group reissued their buy rating on shares of JPMorgan Chase (NYSE: JPM) in a report released on Monday. ISI Group currently has a $55.00 target price on the stock, up from their previous target price of $54.00.
“We expect JPM to remain optimistic about 2013 and the continuation of market share gains, loan growth, operating efficiency improvement, strong capital markets revenue, and stock buybacks all contributing to EPS of at least $5.40 (in our view). We also anticipate a thorough overview of JPM’s business segments, which are already performing quite well (see Table 1). For each major segment, we look for mgmt to update capital allocations and long-term ROE targets (see Table 2) and outline profit growth opportunities. Mgmt has stated that segment ROE targets should be consistent or slightly less than prior guidance due to increased line-of-business capital allocations, especially for the IB, due to more required regulatory capital. The total firm through-the-cycle ROTCE goal will likely remain 16%.,” ISI Group’s analyst wrote.
JPMorgan Chase traded up 2.69% on Monday, hitting $48.88. JPMorgan Chase has a 52-week low of $30.83 and a 52-week high of $49.68. The stock’s 50-day moving average is currently $47.48. The company has a market cap of $186.1 billion and a price-to-earnings ratio of 9.15.
A number of other firms have also recently commented on JPM. Analysts at S&P Equity Research raised their price target on shares of JPMorgan Chase from $50.00 to $53.00 in a research note to investors on Thursday, February 14th. They now have a buy rating on the stock. Separately, analysts at TheStreet reiterated a buy rating on shares of JPMorgan Chase in a research note to investors on Thursday, February 7th. Finally, analysts at Deutsche Bank upgraded shares of JPMorgan Chase from a hold rating to a buy rating in a research note to investors on Friday, January 25th. They now have a $53.00 price target on the stock, up previously from $48.00.
Twenty-two investment analysts have rated the stock with a buy rating, six have issued an overweight rating, six have issued a hold rating, and one has given an underweight rating to the company. The stock has a consensus rating of overweight and an average price target of $53.22.
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