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JP Morgan Chase Gets a Buy Rating from Jefferies


Jefferies analyst Ken Usdin reiterated a Buy rating on JP Morgan Chase (NYSE: JPM) on July 9 and set a price target of $122. The company’s shares closed yesterday at $106.36.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 25.4% and a 84.8% success rate. Usdin covers the Financial sector, focusing on stocks such as Bank Of Hawaii Corp, Bank of America, and SunTrust Banks.

Currently, the analyst consensus on JP Morgan Chase is a Moderate Buy with an average price target of $125.40, implying a 17.9% upside from current levels. In a report released yesterday, Vining Sparks also maintained a Buy rating on the stock with a $125 price target.

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Based on JP Morgan Chase’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $32.85 billion and net profit of $8.65 billion. In comparison, last year the company earned revenue of $28.09 billion and had a net profit of $6.97 billion.

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