Ebrahim Poonawala, an analyst from Bank of America Securities, reiterated the Buy rating on JPMorgan Chase. The associated price target is $350.00.
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Ebrahim Poonawala has given his Buy rating due to a combination of factors including JPMorgan Chase’s strong financial performance and strategic positioning. Despite the stock’s underperformance relative to peers, the company reported third-quarter earnings per share that exceeded both his and the consensus estimates. This performance was driven by a notable increase in pre-provision net revenue, even though expectations were already high.
Furthermore, Poonawala highlights JPMorgan’s ability to navigate various macroeconomic scenarios effectively, supported by its strong capital position and stock valuation. The bank’s net interest income projections for fiscal year 2026 are positive, although they are somewhat offset by a higher expense outlook. Despite these challenges, JPMorgan’s robust capital ratios and strategic flexibility underpin the Buy rating, with a price objective set at $350, indicating confidence in the stock’s potential for appreciation.
In another report released today, Barclays also maintained a Buy rating on the stock with a $342.00 price target.
JPM’s price has also changed moderately for the past six months – from $234.720 to $302.080, which is a 28.70% increase.