JP Morgan Chase Gets a Buy Rating from Jefferies

By Ryan Adsit

In a report released yesterday, Ken Usdin from Jefferies reiterated a Buy rating on JP Morgan Chase (NYSE: JPM), with a price target of $122. The company’s shares closed on Friday at $110.30.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 26.6% and a 87.3% success rate. Usdin covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, Fifth Third Bancorp, and Regions Financial.

Currently, the analyst consensus on JP Morgan Chase is Moderate Buy and the average price target is $123.44, representing an 11.9% upside.

In a report issued on April 6, Vining Sparks also maintained a Buy rating on the stock with a $130 price target.

Based on JP Morgan Chase’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $32.29 billion and quarterly net profit of $8.65 billion. In comparison, last year the company earned revenue of $27.73 billion and had a net profit of $6.39 billion.

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