(News Bulletin 247) – Wells Fargo announced on Monday that it has raised its recommendation on JP Morgan Chase & Co. to ‘overweight’ with a price target raised from 148 to 155 euros.
In a research note, the analyst explains that the American banking giant embodies his thesis according to which this ‘Goliath’ of finance should fare better than its peers in the current situation.
Wells Fargo explains that it expects the New York group to gain market share while taking advantage of its diversified business model in these “uncertain” economic times.
For the intermediary, JPM has in fact been able to constitute a veritable ‘fortress’ thanks to its balance sheet which, according to him, illustrates the progress made by the sector since the financial crisis of 2008, both in terms of level of indebtedness and financial situation. cash.
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