Analyst Ebrahim Poonawala from Bank of America Securities reiterated a Buy rating on JPMorgan Chase and increased the price target to $362.00 from $350.00.
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Ebrahim Poonawala has given his Buy rating due to a combination of factors that, in his view, outweigh the recent headline-driven weakness in JPMorgan Chase’s share price. He notes that the stock’s underperformance versus peers appears more tied to investor anxiety over potential credit card interest rate caps than to any deterioration in fundamentals, and he expects clarity will ultimately have to come from policymakers rather than management. Against this backdrop, he highlights that JPMorgan’s latest quarterly results were solid, with core earnings per share surpassing his estimates, operating expenses running below forecasts, and credit costs coming in better than anticipated, all while management maintained a relatively constructive macro outlook.
Poonawala also points to management’s detailed 2026 guidance, including net interest income targets that broadly align with or exceed expectations and reaffirmed expense guidance, which support his unchanged multi‑year EPS projections. He emphasizes JPMorgan’s strategic positioning, citing its leading market share across key businesses and its willingness to invest heavily — including in R&D and technology — to defend and extend its competitive advantages against both traditional banks and new fintech rivals. While he acknowledges that elevated investment spending, intense competition, and the uncertain durability of AI-driven productivity gains may limit near-term improvement in returns, he believes the firm’s strong capital position and unique growth optionality justify a premium valuation. Taken together, these elements underpin his decision to reiterate a Buy rating and a $362 price objective on the stock.
Poonawala covers the Financial sector, focusing on stocks such as Bank of New York Mellon, Citigroup, and Huntington Bancshares. According to TipRanks, Poonawala has an average return of 17.3% and a 74.23% success rate on recommended stocks.
In another report released yesterday, TipRanks – Google also reiterated a Buy rating on the stock with a $357.00 price target.