JPMorgan Chase: Jefferies still a buyer, raises TP

(CercleFinance.com) - Jefferies confirms its buy recommendation on JPMorgan Chase shares, nudging up its target price for them from $227 to $230 (cp: $196, +0.
3% in pmt), after raising its EPS estimates for the group from $16.15/$15.90 to $16.50/$16.45 for 2024 and 2025 respectively, after an investor day.

The broker notes that the bank has maintained its medium-term target of an ROTCE of around 17%, assuming a reasonable Basel 3 result, and considers its surplus capital to be abundant, but sees few convincing uses for it in the near term.


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