JPMorgan price target raised to $325 from $320 at Wells Fargo

Wells Fargo analyst Mike Mayo raised the firm’s price target on JPMorgan (JPM) to $325 from $320 and keeps an Overweight rating on the shares. The firm increased estimates citing the bank’s “strong” Q2 report. Wells continue to view JPMorgan as a “best-in-class bank” and notes its buybacks remains at $7B. The company’s higher net interest income outlook is driven by a better curve, loan growth, and deposits, the analyst tells investors in a research note.