Credit Suisse Maintains a Buy Rating on JP Morgan Chase

By Ryan Adsit

In a report released yesterday, Susan Roth Katzke from Credit Suisse maintained a Buy rating on JP Morgan Chase (NYSE: JPM), with a price target of $99. The company’s shares closed yesterday at $91.73, close to its 52-week high of $93.98.

According to TipRanks.com, Katzke is a 5-star analyst with an average return of 23.6% and a 75.7% success rate. Katzke covers the Financial sector, focusing on stocks such as Goldman Sachs Group Inc, Citizens Financial, and State Street Corp.

Currently, the analyst consensus on JP Morgan Chase is Moderate Buy and the average price target is $92.80, representing a 1.2% upside.

In a report issued on March 8, Jefferies also reiterated a Buy rating on the stock with a $94 price target.

Based on JP Morgan Chase’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $28.11 billion and quarterly net profit of $6.59 billion. In comparison, last year the company earned revenue of $24.49 billion and had a net profit of $5.33 billion.

Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of JPM in relation to earlier this year. Most recently, in January 2014, Linda Bammann, a Director at JPM sold 17,500 shares for a total of $875,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.