JPMorgan (JPM) beats in Q1 but shares slide on NII guidance
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JPMorgan (JPM) PT Lowered to $195 at BMO Capital
April 15, 2024 6:42 AM EDTBMO Capital analyst James Fotheringham lowered the price target on JPMorgan (NYSE: JPM) to $195.00 (from $196.00) while maintaining a Market Perform rating.
The analyst comments "Despite JPM's 1Q24 credit and fees beat, our out-year estimates are essentially unchanged; higher-than-previously modeled fees are offset by higher... More
CFRA on JPMorgan (JPM): 'We think current rates and a healthy U.S. economy support higher loan volume'
April 12, 2024 10:03 AM EDTCFRA analyst Kenneth Leon reiterated a Buy rating and $215.00 price target on JPMorgan (NYSE: JPM).
The analyst comments "We keep our $215 target on a forward P/E of 13.4x, above the five-year historical average of 12.3x. Following a $0.31 earnings beat at $4.44 in Q1,... More
Deutsche Bank on JPMorgan (JPM): 'well positioned for higher-for-longer interest rates'
April 12, 2024 9:08 AM EDTDeutsche Bank analyst Matt O\'Connor reiterated a Buy rating and $215.00 price target on JPMorgan (NYSE: JPM)
The analyst comments "Mgmt reiterated the view that normalization of both net interest income (net II) and credit is expected to continue. JPM... More
Citi on JPMorgan (JPM): 'NII Guide Softer Than Market Was Hoping For'
April 12, 2024 8:29 AM EDTCiti analyst Keith Horowitz reiterated a Neutral rating and $200.00 price target on JPMorgan (NYSE: JPM).
The analyst comments "JPM reported a 28c core PPNR beat to our estimates and 42c to consensus largely due to better top line (both in NII and fees)... More
Goldman Sachs on JPMorgan (JPM): 'Weaker start to '24 in both NII and expenses'
April 12, 2024 8:15 AM EDTGoldman Sachs analyst Richard Ramsden reiterated a Buy rating and $229.00 price target on JPMorgan (NYSE: JPM)
The analyst comments "JPM reported 1Q24 EPS of $4.44 vs GSe/Visible Alpha Consensus Data $4.25/$4.18, with core EPS of $4.79, vs. our/consensus like estimates of $4.77/$4.63 (adjusting for -$366mn loss on securities, -$15.0mn CVA/DVA loss; -$72mn legal benefit, ~$725mn FDIC special assessment, $450mn tax benefit for tax... More
Morgan Stanley on JPMorgan (JPM): 'Flat NII guide is a modest disappointment to the Street'
April 12, 2024 8:02 AM EDTMorgan Stanley analyst Betsy Graseck reiterated an Overweight rating and $221.00 price target on JPMorgan (NYSE: JPM)
The analyst comments "EPS likely higher on lower provision. Flat NII guide is a modest disappointment to the Street; composition improving with NII... More
Evercore ISI on JPMorgan (JPM): 'NII Beat & Raise Punchbowl Running Low, Rest Looks Normal JPM Good'
April 12, 2024 8:01 AM EDTEvercore ISI analyst Glenn Schorr reiterated an Outperform rating and $210.00 price target on JPMorgan (NYSE: JPM).
The analyst comments "JPM EPS of $4.44 ($4.63 ex FDIC) vs. Our / Street of $4.33 / $4.13. Beat on top and bottom line and we saw a lot of the typically strong JPMorgan metrics to point to, though wed expected the NII trend and commentary to steal the show for a minute and think the most bullish JPM fans were hoping for a bigger upside guide than we got as Jamie has been telling... More
JPMorgan (JPM) Tops Q1 EPS by 44c
April 12, 2024 6:48 AM EDTJPMorgan (NYSE: JPM) reported Q1 EPS of $4.63, $0.44 better than the analyst estimate of $4.19. Revenue for the quarter came in at $42.5 billion versus the consensus estimate of $41.84 billion.
Jamie Dimon, Chairman and CEO, commented: We reported strong results in the first quarter, delivering net income of $13.4 billion, or $14.0 billion excluding a $725 million increase to the FDIC special assessment. Last month, we announced a 10% increase to the common dividend. Our exceptionally high CET1 capital ratio of 15.0% and peer-leading returns provide us with the capacity and flexibility to both reinvest for growth and maintain an... More
