Nomura Securities Maintains a 'Buy' on JPMorgan (JPM); Q3 Review
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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: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on JPMorgan (NYSE: JPM) price target of $41.00.
Nomura analyst, Glenn Schorr, said, "JPM reported EPS of $1.02, vs. our/Street estimates of $0.90/$0.93. It was a headline beat, but the core results were weak (though not horrible) as expected. Soft capital markets results, a $546 million hit in private equity, and $1 billion of additional litigation expense all dented the bottom line. These disappointing trends, coupled with a more cautious outlook statement from management, weighed heavily on JPM’s stock yesterday (-4.8% vs SPX -0.3%)."
Nomura lowers FY12 EPS estimate from $5.25 to $4.50 and FY13 from $5.85 to $5.60.
For more ratings news on JPMorgan click here and for the rating history of JPMorgan click here.
Shares of JPMorgan closed at $31.60 yesterday.
Nomura analyst, Glenn Schorr, said, "JPM reported EPS of $1.02, vs. our/Street estimates of $0.90/$0.93. It was a headline beat, but the core results were weak (though not horrible) as expected. Soft capital markets results, a $546 million hit in private equity, and $1 billion of additional litigation expense all dented the bottom line. These disappointing trends, coupled with a more cautious outlook statement from management, weighed heavily on JPM’s stock yesterday (-4.8% vs SPX -0.3%)."
Nomura lowers FY12 EPS estimate from $5.25 to $4.50 and FY13 from $5.85 to $5.60.
For more ratings news on JPMorgan click here and for the rating history of JPMorgan click here.
Shares of JPMorgan closed at $31.60 yesterday.
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