Barclays Maintains an 'Overweight' on JPMorgan (JPM); Cutting Estimates on 10-Q Surprise
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Price: $193.37 +0.15%
Rating Summary:
22 Buy, 19 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
22 Buy, 19 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Barclays maintains an 'Overweight' on JPMorgan (NYSE: JPM) price target maintained at $57.00.
Analyst, Jason M. Goldberg, said, "We are lowering our 2Q12 and full-year 2012 EPS estimates by $0.27 to $0.96 and $4.63, respectively, to model the CIO trading loss. Still misaligned hedges aren't expected to be corrected until year-end which could make EPS more volatile."
Goldberg noted that investment banking is weaker in Q2 than Q1, consumer & business banking will probably see net income reduced from speads compressing, mortgage repurchase losses could be around $350 million per quarter, however home equity losses and card losses will most likely be lower
For an analyst ratings summary and ratings history on JPMorgan click here. For more ratings news on JPMorgan click here.
Shares of JPMorgan closed at $40.74 yesterday.
Analyst, Jason M. Goldberg, said, "We are lowering our 2Q12 and full-year 2012 EPS estimates by $0.27 to $0.96 and $4.63, respectively, to model the CIO trading loss. Still misaligned hedges aren't expected to be corrected until year-end which could make EPS more volatile."
Goldberg noted that investment banking is weaker in Q2 than Q1, consumer & business banking will probably see net income reduced from speads compressing, mortgage repurchase losses could be around $350 million per quarter, however home equity losses and card losses will most likely be lower
For an analyst ratings summary and ratings history on JPMorgan click here. For more ratings news on JPMorgan click here.
Shares of JPMorgan closed at $40.74 yesterday.
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