Standpoint Research Starts JPMorgan (JPM) at Buy

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February 29, 2012 9:44 AM EST
Get Alerts JPM Hot Sheet
Price: $363.25 +0.63%

Rating Summary:
    22 Buy, 25 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 16 | New: 37
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Standpoint Research initiates coverage on JPMorgan (NYSE: JPM) with a Buy. PT $48.00.

The firm comments, "We are initiating coverage on JPM with a Buy recommendation and target of $48 for 2012-2013. We get to this target by attaching an 8X-9X multiple to what we expect will be record earnings topping $5/share in 2013-2014. There are concerns and headwinds here, but as we see with recent gains in the homebuilder stocks, share prices rise before fundamentals do … and before light is seen at the end of the tunnel. Most homebuilder names have already bounced 50%-100% off their low points from 2011."

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 $39.21 yesterday.

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