JPMorgan

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our $215 target on a forward P/E of 13.4x, above the five-year historical average of 12.3x. Following a $0.31 earnings beat at $4.44 in Q1, we raise our 2024 EPS by $0.50 to $16.50 and 2025’s by $0.70 to $17.00. The Q1 revenue beat was 9% higher (to $41.9B), supporting our higher revenue forecast of $164B in 2024 and $166B in 2025. We think current rates and a healthy U.S. economy support higher loan volume and the impact on net interest income (NII), which JPM is guiding conservatively at $90B for 2024. In Q1, NII rose 11% Y/Y and total loans were +16% Y/Y, with deposit-related fees +2%. Consumer net revenue was +15%, with banking/wealth management +3%, home lending +65%, and card services/auto +8%. Commercial […]

JPMorgan Chase’s (JPM) net interest income outlook this year probably was assessed as a “moderate disappointment” amid “solid” Q1 results on a decrease in loan losses, higher non-interest income and lower expenses, HSBC Global Research said Friday in a note. JPMorgan kept its 2024 net interest income outlook at $90 billion “despite the increase in market expectations for fewer rate cuts since the company last updated guidance,” HSBC said. “The absence of an increase in the NII guide could be viewed as disappointing by the market.” JPMorgan reported Q1 adjusted earnings Friday of $4.63 per share, up from $4.44 a year earlier. Analysts polled by Capital IQ expected $4.13. Revenue rose to $41.93 billion from $38.35 billion. Analysts expected $41.69 billion. “At first blush, the results reinforce our view that JPMorgan will continue posting best-in-class profitability,” HSBC said. “However, elevated expectations and a premium valuation cap upside potential.” The investment

JPMorgan Chase (NYSE:JPM) reported quarterly earnings of $4.44 per share which beat the analyst consensus estimate of $3.82 by 16.23 percent. This is a 8.29 percent increase over earnings of $4.10 per share from the same period last year. The company reported quarterly sales of $42.55 billion which beat the analyst consensus estimate of $38.53 billion by 10.43 percent. This is a 8.17 percent increase over sales of $39.34 billion the same period last year.

The following is a summary of the JPMorgan Chase & Co. (JPM) Q1 2024 Earnings Call Transcript: Financial Performance: JPMorgan reported a Q1 net income of $13.4 billion, EPS of $4.44 on revenue of $42.5 billion, delivering an ROTCE of 21%. Investment banking fees were up 18% YoY, with a notable increase in CCB Wealth Management’s strong net inflows. Commercial and Consumer Banking revenue stood at $40.9 billion, up 4% YoY while Corporate division reported a net income of $918 million with $2.3 billion in revenues. Asset and Wealth Management division posted a net income of $1 billion from revenues of $4.7 billion, marking a 5% YoY increase. Business Progress: The average client investment assets increased by 25% YoY due to a strong market performance and net inflows. Card services revenue grew by 8%, with card outstandings increasing by 13%. Commercial Banking and Investment Banking and Markets revenue were up

JPMorgan Chase is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. First-quarter profit was higher than expected, rising 6% to $13.42 billion, but the bank projected muted growth for the rest of the year. JPMorgan shares were recently down 5.9% to $183.94. Dow Jones & Co. owns Factiva.

Jefferies analyst Ken Usdin maintains JPMorgan Chase (NYSE:JPM) with a Buy and raises the price target from $202 to $228.

By Steve Gelsi Megabank rolls out ‘the only bank-led media platform of its kind’ to help target brand promotions JPMorgan Chase & Co is adding one more line of business to its diversified portfolio. The bank (JPM) said Wednesday its launching Chase Media Solutions to connect marketers with its 80 million customer to offer discounts and other offers based on their historic spending patterns. The moves comes after a pilot program with Whataburger, Solo Stove, Blue Bottle and Air Canada. Scott O’Leary, who is vice president of loyalty and product for Air Canada, said in a prepared statement that Chase, “succeeded in creating a thoughtful, targeted offer that exceeded our expectations” with a program that generated incremental revenue for Air Canada among Chase’s cardmembers. The bank already offered customers deals through its Chase Offers program, which will now include offers from Chase Media. The bank did not provide any revenue

By Tae Kim Surging demand for artificial intelligence might exacerbate a copper shortage later this decade, J.P. Morgan warns. Copper is an essential component for power infrastructure upgrades based upon its electrical conductivity, use in wires, and relative low cost. Data centers will need to revamp their power and cooling systems as AI servers draw more power per square foot. Incremental demand from AI is “stressing an already large looking annual copper supply shortfall later this decade,” J.P. Morgan analyst Dominic O’Kane wrote Thursday. “The implications for future copper demand are significant.” Using the International Energy Agency’s base case scenario of 15% annual power growth for data centers, O’Kane estimates AI will lead to 2.6 million tonnes of additional aggregate copper demand by 2030. Even without the advent of AI power demand, J.P. Morgan had forecast 4 million tonnes cumulative supply shortage through 2030. “Our analysis suggests that data center

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: JPM share price has done well, and we think there is more room to run with a healthy U.S. economy and consumer, low unemployment, and stable credit. We raise our target price by $25 to $215 using a forward P/E of 13.4x, above the 5-year historical average of 12.3x. We keep our EPS estimates at $16.00 in ’24 and $16.30 in ’25, both in line with the consensus. In our opinion, JPM is gaining wallet share across many different businesses. First, investment banking is coming off the trough and there is less global competition for IPOs and equity secondaries, debt underwriting, and M&A advisory fees. Second, we think mid-size companies are looking to shift loans and other services to larger banks like JPM. Third, JPM has a

RBC Capital analyst Gerard Cassidy reiterates JPMorgan Chase with a Outperform and maintains $185 price target.

Wells Fargo analyst Mike Mayo maintains JPMorgan Chase (NYSE:JPM) with a Overweight and raises the price target from $200 to $220.