Nomura Securities Maintains a 'Buy' on JPMorgan (JPM); Talking with Jamie

Nomura Securities maintains a 'Buy' on JPMorgan (NYSE: JPM) price target of $45.00.

Analyst, Glenn Schorr, said, "Notwithstanding the recent setbacks from the trading loss at the CIO and the stricter-than-expected Fed NPR, JPM capital ratios are solid and are likely to build quickly towards the 9.5% bogey – just a little weird seeing them in the pack instead of at the top. JPM feels it has had better growth and returns on capital as a combined entity given synergies, economies of scale, and diversification benefits across its businesses. All in, we continue to see the same JPM foundation of strong earnings power, good businesses, decent yield, solid future capital returns (in ’13), and at a reasonable valuation (~1x TBV). As such, we think JPM is in the process of gaining back some of its mojo and we believe the stock will return to being one of many portfolio managers’ go-to stocks in financials."

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 $38.69 yesterday.

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