UPDATE - UBS Initiates Coverage on JPMorgan (JPM) with a Buy; Firing On All Cylinders

UPDATE - UBS initiates coverage on JPMorgan (NYSE: JPM) with a Buy rating. PT $54.

UBS analyst said, "JPM is in an enviable position – its balance sheet and capital position are strong, the economy and credit costs are improving, and the firm has gained share while not yet seeing the benefits of its recent investments. We see higher earnings and returns in the coming years, with share holders reaping the benefits via a combination of increased dividends, share repurchases and a higher stock multiple."

"Stable management team with an ability to execute the game plan - Unlike peers, JPM has enjoyed stability in its management ranks. This has been an invaluable asset during the crisis and will continue to be an asset as the firm looks to expand. While there are numerous distractions affecting all companies in the industry right now, JPM has the luxury of being laser focused on its businesses instead of being distracted by politics, regulatory scrutiny, or investor confidence."

To see all upgrades/downgrades on shares of JPM, visit our Analyst Ratings page.

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