Piper Sandler Reiterates Overweight Rating on JPMorgan (JPM)

Piper Sandler analyst R. Scott Siefers reiterated an Overweight rating and $270.00 price target on JPMorgan (NYSE: JPM).

The analyst commented: "We highlight JPM, FITB, and ONB as well-positioned names to outperform in this chaotic environment; In the universal space, we also like JPM for a variety of reasons, and we reiterate our OW. The company had offered a mid-Q update in February (which now feels like an eternity ago). And while activity has certainly been fluid since then, we believe that JPM’s large Markets business will provide an important offset to the currently weak IB environment and help to support overall EPS expectations.

Further, we see little risk to JPM’s expense outlook given that it has already steered the market toward a likely outcome (i.e. ~ $95B in 2025E) and seems to have a newer imperative to “live within its means.” Finally, the company’s excellent credit, liquidity, and capital profiles should support the idea that JPM represents not only a name with excellent momentum, but also one with peer-leading defensive characteristics (including robust capital flexibility as JPM may arrest the growth of even further excess)."

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 $214.44 yesterday.

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