JPMorgan Chase Stock: Wall Street Is Still Bullish

Analysts’ recommendations

Analysts are bullish about JPMorgan Chase (JPM). Analysts expect decent growth in JPMorgan Chase’s stock price from the current level. The company’s impressive track record of strong quarterly performances and its encouraging outlook for 2018 instilled confidence among analysts.

Analysts haven’t changed their ratings on JPMorgan Chase in the last two months. As of September 12, out of the 29 analysts, 16 recommended a “strong buy” or “buy,” 12 recommended a “hold,” and one recommended a “sell.” With analysts’ one-year forward target price of $122.33, the stock has an upside of 8.2% from the current market price of $113.08.

JPMorgan Chase Stock: Wall Street Is Still Bullish

Banking peers

Wall Street analysts are bullish about the entire US banking industry (XLF). Analysts provided a “buy” recommendation for most of JPMorgan Chase’s top peers.

As of September 12, out of 29 analysts, seven recommended a “strong buy” on Bank of America (BAC), 14 recommended a “buy,” and eight recommended a “hold.” The target price of $34.57 depicts a 13.6% rise from the current market price of $30.43.

Out of 26 analysts covering Goldman Sachs (GS), five recommended a “strong buy,” nine recommended a “buy,” 11 recommended a “hold,” and one recommended a “sell.” Analysts’ target price of $276.23 represents an ~21% increase from the current price of $228.15.

Among the 28 analysts covering Citigroup (C), six analysts recommended a “strong buy,” 14 recommended a “buy,” seven recommended a “hold,” and one recommended a “sell.” The target price of $83.52 represents an 18.5% increase from the current price of $70.51.

Out of the 26 analysts covering Morgan Stanley (MS), four recommended a “strong buy,” 13 recommended a “buy,” and nine recommended a “hold.” The target price of $59.75 represents a 25.8% increase from the current price of $47.48.