Wells Fargo raises J.P. Morgan Chase & Co. target price to $325 from $320

Wells Fargo raises J.P. Morgan Chase & Co. target price to $325 from $320

Wells Fargo analyst Mike Mayo has increased the firm’s price target on J.P. Morgan Chase & Co. (JPM) to $325 from $320, while maintaining an Overweight rating on the shares [1]. This upward revision follows the bank’s “strong” Q2 report, which prompted Wells Fargo to boost its estimates. The analyst highlights J.P. Morgan’s higher net interest income outlook, driven by a better yield curve, loan growth, and deposits. Additionally, Mayo notes that J.P. Morgan’s buybacks remain at $7 billion [1].

The latest price target reflects a positive outlook on J.P. Morgan’s financial performance and strategic growth. Wells Fargo continues to view J.P. Morgan as a “best-in-class bank,” underscoring the analyst’s confidence in the company’s prospects. This move comes amid a broader trend of analysts revising their price targets upward, reflecting a more optimistic view of the financial sector.

References:
[1] https://www.tipranks.com/news/the-fly/jpmorgan-price-target-raised-to-325-from-320-at-wells-fargo-thefly