Wells Fargo analyst Mike Mayo maintained a Buy rating on JPMorgan Chase & Co. (JPM – Research Report) yesterday and set a price target of $300.00.
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Mike Mayo has given his Buy rating due to a combination of factors, primarily highlighting JPMorgan Chase & Co.’s robust market share growth and superior performance. The bank is benefiting from what he identifies as the most favorable regulatory changes in decades, akin to the conditions seen during the early years of the Trump administration. This regulatory environment, along with strong capital market dynamics, positions JPMorgan for a potential re-rating.
Furthermore, Mayo anticipates significant earnings per share growth for JPMorgan, with estimates ranging from $18 to $21 over the next few years. He also notes that reducing capital requirements could further enhance earnings by 10% to 15%. While he acknowledges potential risks such as investment and market volatility, Mayo is optimistic about the bank’s ability to maintain high returns, bolstered by a supportive regulatory framework encouraging more lending.
In another report released on February 5, Evercore ISI also maintained a Buy rating on the stock with a $273.00 price target.
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of JPM in relation to earlier this year.