FBR Capital Reiterates an 'Outperform' on JPMorgan (JPM); If You Build It, They Will Come
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Price: $362.84 -0.07%
Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
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FBR Capital reiterates an 'Outperform' on JPMorgan (NYSE: JPM), PT $53.
FBR analyst says, "We recently met with Charlie Sharf, CEO of JPMorgan's retail financial services unit. It is obvious that JPM is in a position to aggressively take advantage of displacement among peers in the banking industry. The company can use its relatively strong capital and liquidity position to build out its network of branches and compete at the consumer level for both individual and small business banking. Its plan to build out 1,500 to 2,000 new branches over the next five years will be a tall order given the management complexities inherent with essentially building another Washington Mutual. We applaud the company for taking charge but remain skeptical whether it can effectively execute its ambitious plan and do not think it is important for the value of the stock in the short-medium term."
For more ratings news on JPMorgan click here and for the rating history of JPMorgan click here.
Shares of JPMorgan closed at $46.56 yesterday.
FBR analyst says, "We recently met with Charlie Sharf, CEO of JPMorgan's retail financial services unit. It is obvious that JPM is in a position to aggressively take advantage of displacement among peers in the banking industry. The company can use its relatively strong capital and liquidity position to build out its network of branches and compete at the consumer level for both individual and small business banking. Its plan to build out 1,500 to 2,000 new branches over the next five years will be a tall order given the management complexities inherent with essentially building another Washington Mutual. We applaud the company for taking charge but remain skeptical whether it can effectively execute its ambitious plan and do not think it is important for the value of the stock in the short-medium term."
For more ratings news on JPMorgan click here and for the rating history of JPMorgan click here.
Shares of JPMorgan closed at $46.56 yesterday.
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