(News Bulletin 247) – Jefferies raises its recommendation on JPMorgan Chase from ‘hold’ to ‘buy’, with a price target raised by 11% to 165 dollars, in a note devoted to American banks as their quarterly publications approach .
“Banks continue to face multiple uncertainties, including negative revisions to net interest income and EPS, credit normalization, and the finalization of regulations,” points out the broker.
‘While JPMorgan Chase has outperformed both absolute and relative in 2023, its combination of a strong balance sheet, strong liquidity position and potential to generate top-notch earnings continues to put the bank in good shape. position,’ he said.
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