Goldman Sachs lowered the firm’s price target on JPMorgan (JPM) to $361 from $365 but keeps a Buy rating on the shares after its Q1 results. The firm believes investors will be reassured by the management’s message around the fact that deposit growth has accelerated, with cumulative deposit betas around 50% despite increased competition and that the pick up in market volatility does not seem to have impacted the near-term outlook for the markets business with clients remaining engaged in both trading and investment banking.
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