Phillip Securities analyst Glenn Thum initiated coverage of JPMorgan with a Buy rating and $231.19 price target. Peak interest rates will boost the bank’s funding costs, as loan and security repricing is set to overtake deposit repricing, the analyst tells investors in a research note. The firm says this shift will drive net interest income going forward while credit losses have normalized to pre-pandemic levels.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JPM:
- Top Wall Street Names Explore Fresh Opportunities Amid Muted M&A Flow
- Reddit (NYSE:RDDT) Prices IPO at $34 Per Share
- JPMorgan price target raised to $220 from $200 at Wells Fargo
- JPMorgan raises quarterly dividend to $1.15 per share from $1.05
- JPMorgan names leads of new sports investment banking group, Bloomberg reports