Oppenheimer lowered the firm’s price target on JPMorgan to $232 from $234 and keeps an Outperform rating on the shares. The firm notes JPMorgan reported Q4 2023 EPS of $3.04 against consensus $3.35. However, both figures are subject to one-time noise with various consensus assumptions. Rather, Oppenheimer would place Q4 core economic EPS at $3.94 and solid beat versus its $3.73 estimate after adjusting for the $2.9B FDIC special assessment among other smaller items.
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