Morgan Stanley lowered the firm’s price target on JPMorgan to $220 from $226 and keeps an Overweight rating on the shares. The firm is lowering its Q3 EPS estimate by 21c, or 5%, to $3.96 and its 2025 EPS view by 47c, or 3%, to $16.94 driven by lower investment banking fee and higher reserve build expectations following management commentary at a recent conference.
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