Nomura Securities Maintains a 'Buy' on JPMorgan (JPM); Raising Numbers
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Price: $52.30 +2.61%
Rating Summary:
13 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
13 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade JPM Now!
Nomura Securities maintains a 'Buy' on JPMorgan (NYSE: JPM), PT increased by $1 to $53.
Nomura analyst, Glenn Schorr, says, "Review of 1Q results. Reported a pretty good quarter with plenty of positives, though we don’t think it was enough to get those underweight financials off the sidelines. We still like the stock and think the risk/reward is positively skewed, although we think some people will look at the IB trends as unsustainable ahead of 2Q/3Q, believe continued mortgage-related expenses remain elevated and consumer loan slippage and higher fees/charges will combine with limited revenue growth to produce shrinkage in pretax pre-provision earnings. We’ve tweaked ests higher: our 2011 estimate is now $5.00, up from $4.75, which also reflects 1Q’s overage to our forecast; 2012 is now $5.60 up from $5.52."
For more ratings news on JPMorgan click here and for the rating history of JPMorgan click here.
Shares of JPMorgan closed at $46.25 yesterday, with a 52 week range of $35.16-$48.36.
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Nomura analyst, Glenn Schorr, says, "Review of 1Q results. Reported a pretty good quarter with plenty of positives, though we don’t think it was enough to get those underweight financials off the sidelines. We still like the stock and think the risk/reward is positively skewed, although we think some people will look at the IB trends as unsustainable ahead of 2Q/3Q, believe continued mortgage-related expenses remain elevated and consumer loan slippage and higher fees/charges will combine with limited revenue growth to produce shrinkage in pretax pre-provision earnings. We’ve tweaked ests higher: our 2011 estimate is now $5.00, up from $4.75, which also reflects 1Q’s overage to our forecast; 2012 is now $5.60 up from $5.52."
For more ratings news on JPMorgan click here and for the rating history of JPMorgan click here.
Shares of JPMorgan closed at $46.25 yesterday, with a 52 week range of $35.16-$48.36.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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