Goldman Sachs Boosts Numbers on JPMorgan (JPM) Following Meetings
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Price: $356.14 +0.03%
Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
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Goldman Sachs raised estimates and its price target on Buy-rated JPMorgan (NYSE: JPM) from $45 to $50 following a meeting with CEO Jamie Dimon and other key management.
The firm said the tone of the meeting was upbeat with the company believing housing is close to reaching a turning point, FICC and other capital market business off to a good start this year and LTRO was a game changer in removing counterparty and liquidity risk.
JPMorgan remains remains confident it can achieve its return targets, including its 17% ROE target in the investment bank, the firm notes. That said, hitting the $24 billion earnings target is still several years off as the mortgage business will continue to remain a drag. While regulatory uncertainty remains, the company is confident that Volcker and swaps rules will be sorted out in a more market friendly manner.
FY12 EPS goes from $4.53 to $4.75 and FY13 from $5.40 to $5.60, citing improved capital market activity.
For an analyst ratings summary and ratings history on JPMorgan click here. For more ratings news on JPMorgan click here.
Shares of JPMorgan closed at $44.57 yesterday.
The firm said the tone of the meeting was upbeat with the company believing housing is close to reaching a turning point, FICC and other capital market business off to a good start this year and LTRO was a game changer in removing counterparty and liquidity risk.
JPMorgan remains remains confident it can achieve its return targets, including its 17% ROE target in the investment bank, the firm notes. That said, hitting the $24 billion earnings target is still several years off as the mortgage business will continue to remain a drag. While regulatory uncertainty remains, the company is confident that Volcker and swaps rules will be sorted out in a more market friendly manner.
FY12 EPS goes from $4.53 to $4.75 and FY13 from $5.40 to $5.60, citing improved capital market activity.
For an analyst ratings summary and ratings history on JPMorgan click here. For more ratings news on JPMorgan click here.
Shares of JPMorgan closed at $44.57 yesterday.
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