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Vining Sparks Keeps a Buy Rating on JP Morgan Chase (JPM)


In a report released today, Marty Mosby from Vining Sparks maintained a Buy rating on JP Morgan Chase (NYSE: JPM), with a price target of $125. The company’s shares opened today at $110.37.

Mosby noted:

““Strong Buy” We believe that JPM’s current P/ TBV multiple of 197% should expand towards 215% over the next 12 months, as investors incorporate the 4 percentage point year-over- year improvement in ROTCE into its valuation. Thus, JPM ’s meaningful return of capital coupled with these high returns make it a strong value investment at this entry point. Moreover, JPM has a strong valuation floor around 200% of TBV given its dividend yield and higher quality business mix which makes its current return-to- risk ratio exceed 2X.”

According to TipRanks.com, Mosby is a 5-star analyst with an average return of 13.2% and a 63.1% success rate. Mosby covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, Goldman Sachs Group Inc, and Fifth Third Bancorp.

Currently, the analyst consensus on JP Morgan Chase is a Moderate Buy with an average price target of $126.15, implying a 14.3% upside from current levels. In a report issued on October 1, Credit Suisse also maintained a Buy rating on the stock with a $130 price target.

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Based on JP Morgan Chase’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $32.82 billion and net profit of $8.26 billion. In comparison, last year the company earned revenue of $30.21 billion and had a net profit of $6.67 billion.

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