UBS raised the firm’s price target on JPMorgan (JPM) to $350 from $339 and keeps a Buy rating on the shares. Bank stocks delivered strong Q2 gains, with share price appreciation outpacing estimate revisions by roughly fivefold, driven by deregulation, improving capital markets activity, and solid loan growth, the analyst tells investors in a research note. The Fifth Third (FITB)/Comerica (CMA) merger may reignite interest in regional banks, particularly if management signals a rebound in middle-market C&I lending and NIM improvement from a steepening yield curve, though selectivity is warranted after the recent rally, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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:
- Banks competing for roles on Fannie Mae, Freddie Mac IPOs, WSJ reports
- JPMorgan (JPM) Names New EMEA Co-CEOs to Drive Revenue Growth
- Crypto Currents: Bitcoin tops $125K as Morgan Stanley advisors push bitcoin ETFs
- Researcher Says Calling SWIFT an ‘XRP Killer’ Is ‘Hilarious’
- Crypto Currents: JPMorgan eyes $165,000 bitcoin as Avalanche unit goes public