JPMorgan price target raised to $264 from $257 at Keefe Bruyette

Keefe Bruyette analyst David Konrad raised the firm’s price target on JPMorgan (JPM) to $264 from $257 and keeps a Market Perform rating on the shares. The bank reported a solid quarter and continues to demonstrate that it is a “best-in-class name,” but the stock’s outperformance historically occurs in a “risk-off environment” when it can more attractively deploy capital, the analyst tells investors in a research note.