This article was initially published on www.analystratings.com, written by George Macdonald
RBC Capital Believes JPM Won’t Stop Here
RBC Capital analyst Gerard Cassidy reiterated a Buy rating on JP Morgan Chase (NYSE: JPM) today and set a price target of $72. The company’s shares opened today at $69.23, close to its 52-week high of $69.37.
Currently, the analyst consensus on JP Morgan Chase is Strong Buy and the average price target is $62.25, representing a -10.1% downside. In a report released today, Argus Research also reiterated a Buy rating on the stock with a $78 price target.
Based on JP Morgan Chase`s latest earnings report from March 31, the company posted quarterly revenue of $25.95B and quarterly net profit of $5.91B. In comparison, last year the company earned revenue of $26.52B and had a net profit of $5.99B.
Financial bloggers on sites such as SeekingAlpha, the MotleyFool and others, seem to have a Positive view on JPM. When evaluating the opinions of financial bloggers over the last 3 months, 86% of bloggers have indicated a Bullish sentiment, while 14% have indicated a Bearish sentiment. The average blogger Bullish sentiment in the Financial sector is 69% which is less positive than the blogger sentiment of JPM.
Unlike RBC Capital`s latest rating, based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is neutral on the stock. Most recently, in January 2014, Linda Bammann, a director at JPM sold 17,500 shares for a total of $875,000.