FBR Capital Upgrades JPMorgan (JPM) to Outperform; Deserves Premium Over Peers
Get Alerts JPM Hot Sheet
Rating Summary:
22 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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FBR Capital upgraded JPMorgan (NYSE: JPM) from Market Perform to Outperform with a price target of $70.00 (from $55.00) to reflect a deserved premium to its peers, in the firm's opinion
The firm is reiterating FY14 and FY15 operating EPS estimates of $5.77 and $5.95, both of which reflect above a 13% return on average tangible common equity.
"Though we had remained on the sidelines given a lack of near-term earnings growth or identifiable catalysts, we now believe investor expectations have been reset and JPM shares should benefit over the next year as the economy and the prospects for positive catalysts improve," analyst Paul Miller states.
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 $58.23 yesterday.
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