What Analysts Recommend for JPM ahead of Q1 Results



Analysts suggest a “hold”

JPMorgan Chase (JPM) is set to report its first-quarter results on April 12. However, analysts have low growth expectations. Lower fixed income revenues, heightened competitive activity, and the Fed’s pause in rate hikes are expected to limit the revenue and EPS growth in coming quarters. Meanwhile, the bank’s earnings face tough YoY comparisons, which is likely to restrict the EPS growth rate. However, JPMorgan Chase is expected to benefit from growth in loans and deposits. Also, an anticipated rise in advisory fees is likely to support the top line.

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Notably, increased volatility and persisting challenges in trading-related products continue to hurt the top line of banks in the US. Meanwhile, the absence of rate hikes is expected to lower net interest income, and in turn, the EPS growth rate.

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Rating and target price

Among the 30 analysts, 15 suggest a “hold” on JPM stock. Meanwhile, 14 analysts have a “buy” recommendation. One analyst suggests a “sell.” Analysts have a target price of $115.48 on JPM stock, which implies an upside of 9.3% based on its closing price of $105.65 on April 8.

In comparison, analysts also recommend a “hold” on Wells Fargo (WFC) and Goldman Sachs (GS). Meanwhile, analysts suggest a “buy” on Citigroup (C) and Bank of America (BAC) stock.


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