Buckingham Research Reaffirms 'Strong Buy' Rating on J.P. Morgan (JPM)
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Buckingham Research reaffirms 'Strong Buy' rating on J.P. Morgan (NYSE: JPM)
Buckingham analyst says, "While the environment is likely to remain challenging in the near-term, we continue to view JPM as a high quality play among the banks given its superior risk management and strong balance sheet (9.1% Tier 1 ratio), which enables JPM to aggressively pursue market share and accretive acquisitions. Moreover, despite JPM’s “best in class” status, it is not overly expensive, trading at 1.1x book value and 10.5x an arguably depresses ‘09 EPS estimate. JPM is our only Strong Buy rated stock among the large banks."
JPMorgan Chase & Co. is a financial holding company.[SM]
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