TD Cowen raised the firm’s price target on JPMorgan (JPM) to $375 from $370 and keeps a Buy rating on the shares. The firm met with management and came away noting the Commercial Investment Bank (CIB) is following a playbook to drive share gains in each business while also continuing to make smart strategic investments, the moat is deepening. Along these lines, the bank today owns one of the most valuable strategic assets in the industry via its scaled operating platform, Kinexys.
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