Standpoint Upgrades JPMorgan (JPM) to Buy

Standpoint Research issued an intraday upgrade on shares of JPMorgan (NYSE: JPM) Monday. The firm now rates the stock a Buy, up from Neutral previously. A $43 price target was set.

Standpoint noted a 20 percent decline in JPMorgan shares over the last seven weeks. An analyst from the firm said the stock's 9 percent decline on Friday appears to be "an over-reaction to the well-publicized trading loss."

With JPMorgan shares down nearly 2 percent to $36.24 at last check, Standpoint's new price target represents potential upside of about 19 percent.

For an analyst ratings summary and ratings history on JPMorgan click here. For more ratings news on JPMorgan click here.

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