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Research Alert: CFRA Maintains Hold Opinion On Shares Of Jpmorgan Chase & Co.
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Research Alert: CFRA Maintains Hold Opinion On Shares Of Jpmorgan Chase & Co.
Jun 26, 2025 8:27 AM

11:05 AM EDT, 06/26/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by $25 to $295 using a forward normalized P/E multiple of 15.1x, which is near the five-year historic average at 14.9x, recognizing a wider equity risk premium for one of the industry's leading global U.S. banks. We have a Hold rating on JPM, but are positive on the bank's fundamental outlook. We kept our 2025 EPS estimate at $18.40 and raised 2026's by $0.40 to $19.55 per share. The U.S. economy is the primary driver for JPM's revenue and earnings growth. We think the delta for higher earnings growth is higher fee service income from asset management and investment banking. JPM gained wallet share across different businesses in 2024. We also see midsize companies looking to shift loans and other services to JPM. The bear case is net interest income (NII) may decline, but rate cuts from the Fed are uncertain. NII was 55% of total net revenue, up 4% Y/Y in 2024. Another area that we see as a positive earnings lever is a rebound in the capital markets in the second half of 2025.

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