JPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst Christopher McGratty upgraded JPMorgan (JPM) to Outperform from Market Perform with a price target of $327, up from $253, following a transfer of coverage. The firm is bullish on the long-term structural benefits of scale for the large-cap banks. It prefers business models that can produce leading returns with high degrees of predictability. Keefe cites “business model superiority” for the upgrades of JPMorgan and Morgan Stanley.