JPMorgan price target raised to $171 from $167 at BMO Capital

BMO Capital raised the firm’s price target on JPMorgan to $171 from $167 and keeps a Market Perform rating on the shares. The company reported a “big broad-based beat” with improved guidance which demonstrates its ability to gain share in tough environments and highlights defensive characteristics of JPM shares, the analyst tells investors in a research note. The firm adds however that the management also highlighted macroeconomic risks around inflation, government debt, quantitative tightening, and geopolitics, as well as company-specific risks such as upward expense pressure.