- JPMorgan’s stock has room to rise 60% over the next 18 months, according to an analyst
- Analyst increased price target on JPMorgan stock to $233 from $215
- JPMorgan’s Q3 profit exceeded Wall Street estimates
- Positive momentum continued in the banking sector
- JPMorgan is considered the country’s premier banking franchise
- Bank’s credit quality remains stable at outstanding levels
- Wells Fargo continues to face mixed business conditions
- Bank of America and Goldman Sachs will report Q3 profit soon
- Earnings updates are due from Bank of America, Goldman Sachs, and Morgan Stanley
JPMorgan’s stock has the potential to rise 60% over the next 18 months, according to an analyst. The analyst increased the price target on JPMorgan stock to $233 from $215 after the bank’s stronger-than-expected third-quarter profit update. Positive momentum continued in the banking sector, with other banks like Wells Fargo, Bank of America, Citigroup, and Goldman Sachs also experiencing stock increases. JPMorgan is considered the country’s premier banking franchise, with strengths in consumer, commercial, and institutional banking, as well as asset management. The bank’s credit quality remains stable at outstanding levels. Wells Fargo, on the other hand, continues to face mixed business conditions. Earnings updates are due from Bank of America, Goldman Sachs, and Morgan Stanley.
