RBC Capital lowered the firm’s price target on JPMorgan to $132 from $150 and keeps an Outperform rating on the shares. The analyst states that the "excessive" tightening by the Federal Reserve, resulting in a "deep recession" in 2023, poses a key risk for the bank as it would bring on elevated levels of credit losses and depress earnings.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on JPM:
- JPMorgan managed to gain most customers who fled SVB, NY Post reports.
- JPMorgan, Citi, BofA tell staff to avoid clients of stressed banks, Reuters says
- Invest in a Bank Stock Rebound with This ETF
- JPMorgan CEO met with White House NEC director this week, Reuters says
- JPMorgan to acquire Aumni, terms not disclosed