Wells Fargo analyst Mike Mayo lowered the firm’s price target on JPMorgan (JPM) to $350 from $360 and keeps an Overweight rating on the shares. The firm says JPMorgan’s investor update should reaffirm that Goliath is Winning and the company is willing and able to press their advantages for even more market share gains. Wells’ big question is the degree that JPMorgan can better reassure that higher spending will pay off.
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