Deutsche Bank Downgrades JPMorgan (JPM) to Hold; Whale Hit Recouped; Shares Less Compelling
Get Alerts JPM Hot Sheet
Price: $193.08 +0.49%
Rating Summary:
22 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
22 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Deutsche Bank downgraded JPMorgan (NYSE: JPM) from Buy to Hold with a price target of $40.00 (from $43.00).
Deutsche analyst, said, "Last Fri, we met with JPM's CFO. Besides announced mgmt changes, there wasn't much new info. That said, we have become increasingly concerned that: 1) EPS expectations may be too high (our 2013e is 3% below consensus and we have a downward bias to our estimate), 2) capital deployment may disappoint (we think Fed approval for meaningful buybacks in 4Q12/1Q13 is unlikely) and 3) regulatory/legal matters (such as LIBOR, VAR model changes, CIO loss disclosures, etc) remain uncertain. Given these and a 19% rise in the stock off recent lows, we think the risk/reward is less compelling."
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 $36.89 yesterday.
Deutsche analyst, said, "Last Fri, we met with JPM's CFO. Besides announced mgmt changes, there wasn't much new info. That said, we have become increasingly concerned that: 1) EPS expectations may be too high (our 2013e is 3% below consensus and we have a downward bias to our estimate), 2) capital deployment may disappoint (we think Fed approval for meaningful buybacks in 4Q12/1Q13 is unlikely) and 3) regulatory/legal matters (such as LIBOR, VAR model changes, CIO loss disclosures, etc) remain uncertain. Given these and a 19% rise in the stock off recent lows, we think the risk/reward is less compelling."
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 $36.89 yesterday.
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