Morgan Stanley analyst Betsy Graseck raised the firm’s price target on JPMorgan to $173 from $167 and keeps an Overweight rating on the shares, arguing that if the Fed achieves a soft landing and "the storm clouds JPMorgan Chairman and CEO Jamie Dimon frequently references turn out to be a light drizzle" that the bank should benefit from higher for longer interest rates through higher earnings growth. The firm, which asks the question "When will the world’s largest bank by market cap reach $1 Trillion?" lays out scenarios for that to happen in some period of less than eight years to up to 12 years.
Published first on TheFly
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