Baird Downgrades JPMorgan (JPM) to Underperform

Baird analyst David George downgraded JPMorgan (NYSE: JPM) from Neutral to Underperform with a price target of $200.00.

The analyst comments: "We urge clients to take profits in JPM shares here, as we believe current prices offer a poor risk/reward, and we see limited upside in the stock here. We understand the optimism market participants have around a more benign regulatory environment, along with a more pro-growth macroeconomic agenda. At the same time, we find that expectations are quite high, with the stock trading at ~2.6x TBV, 15% cap to assets, over 14x 2026 EPS estimates, and ~10x PPNR – all close or at all-time highs. We know we are fighting the tape here, but believe it makes sense to sell the stock here given what we see as limited upside."

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 $247.06 yesterday.

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