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Headquartered in New York City, JPMorgan Chase & Co. (JPM) is a global financial services firm with a significant market presence and a market cap of $623.6 billion. JPMorgan Chase offers a comprehensive suite of financial services to serve diverse clients, including individuals, corporations, governments, and institutions.
Shares of JPMorgan have considerably outperformed the broader market considerably over the past year. JPM has gained 71.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 35.8%. In 2024 alone, JPM stock is up 45.2%, surpassing SPX’s 24.3% rise on a YTD basis.
Narrowing the focus, JPM has significantly outperformed the Financial Select Sector SPDR Fund (XLF). The stock has comfortably outperformed the exchange-traded fund’s 31.8% YTD returns and 45.4% gains over the past 52 weeks.
On Oct. 10, JPMorgan Chase reported strong Q3 earnings, beating Wall Street estimates due to higher-than-expected interest income, though concerns loom over potential margin pressure as interest rates decline. The shares rose 4.4% in the subsequent trading session after the earnings release.
For the current fiscal year, ending in December, analysts expect JPMorgan’s EPS to grow 4.3% year over year to $17.52 on a diluted basis. The company's earnings surprise history is robust. It beat the consensus estimate in each of the last four quarters.
Among the 22 analysts covering JPM stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, two “Moderate Buys,” and seven “Holds.”
This configuration is less bullish than it was three months ago, with an overall rating of “Strong Buy.”
On Oct. 16, Mike Mayo from Wells Fargo & Company (WFC) maintained a ‘Buy’ rating on JPMorgan with a price target of $240.
Although the stock trades at a premium to the mean price target of 229.24, the Street-high price target of $257 suggests an upside potential of 4% to current price levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
