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JPMorgan Chase: Jefferies upgrades stock

(CercleFinance.com) - Jefferies has upgraded its rating on the JPMorgan Chase share from "hold" to "buy," having increased its corresponding target price from 110 dollars to 152 dollars in sector comments on a number of US banking stocks.


"Even after the 'blue wave' rip, we believe banks' relative PEs remain attractive and a case for absolute P/E expansion exists," the broker says about the sector.

"Rev. growth remains a pain point but higher long rates and an eventual turn in loan growth could join strong deposit growth, better cost control and a restart of buybacks as positives," it adds.


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