Deutsche Bank Comments On JP Morgan Following Meeting With COO Matt Zames

In a research report issued today, Deutsche Bank analyst Matt O’Connor maintained a Buy rating on JP Morgan Chase & Co (NYSE:JPM), following a meeting with the company’s COO Matt Zam. No price target was provided.

O’connor said, “Management seemed confident there was upside to profitability both from an improving macro environment as well as better optimization of capital and expenses. Reiterate BUY on JPM given opportunities for capital and expense optimization, upside to a better macro environment and an attractive valuation (on both book and earnings).”

The analyst continued, “JPM shares are up 5% YTD, lagging some peers, why? The two key drivers in our view is the drop in 2015 consensus est at JPM and the lowering of the long term ROTCE target. Potentially higher capital levels have also been a concern. However, we believe these overhangs are behind.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Matt O’connor has a total average return of 5.5% and a 71.4% success rate. O’connor is ranked #1167 out of 3420 analysts.

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