Here is why JPMorgan Chase & Co. (JPM) is among the 8 Best Stocks to Buy Following Federal Reserve Pivot Expectations
With 131 hedge funds holding stakes in the stock, JPMorgan Chase & Co. (NYSE:JPM) is among the 8 Best Stocks to Buy Following Federal Reserve Pivot Expectations.
On July 9, Keefe Bruyette raised its price target on JPMorgan Chase & Co. (NYSE:JPM) to $370 from $363 while maintaining an Outperform rating on the shares. The firm noted that recent performance across bank stocks has been encouraging, supported by attractive valuations and improving business fundamentals. According to the analyst, expectations for interest rates to remain higher for longer continue to shape the operating environment for financial institutions, creating opportunities for banks with strong funding franchises and diversified revenue streams. Keefe Bruyette also highlighted continued momentum in capital markets activity and improving loan growth trends as supportive factors for the sector.
On June 29, Morgan Stanley raised its price target on JPMorgan Chase & Co. (NYSE:JPM) to $362 from $336 while maintaining an Equal Weight rating on the shares. Despite the banking sector’s 17% rally during the quarter, the firm expressed a constructive outlook heading into earnings season, citing continued improvement in revenue momentum across the U.S. banking industry.
JPMorgan Chase & Co. (NYSE:JPM), founded in 1799 and headquartered in New York City, is a global financial services firm offering consumer banking, investment banking, and asset management.
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