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