Bank of America Merrill Lynch Raises Numbers on JP Morgan Chase (JPM)

Bank of America Merrill Lynch Raises Numbers on JP Morgan Chase (JPM)

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On Wednesday, analysts at Bank of America Merrill Lynch boosted the price target and earnings estimates on JP Morgan Chase & Co. (JPM) as the financial services giant should see improved net interest income.

The analysts maintain a “Buy” rating on JPM and now see shares reaching $55. This new valuation suggests a 15.5% upside to Tuesday’s closing price of $47.60.

JP Morgan shares were up 98 cents, or +2.06%, during Wednesday morning trading. The stock is up +24.4% over the past year.

The Bottom Line
Shares of JP Morgan (JPM) have a dividend yield of 2.51% based on Wednesday’s intraday trading price of $47.85 and the company’s annualized dividend payout of $1.20 per share.

JP Morgan Chase & Co. (JPM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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