1 Wall Street Analyst Thinks JPMorgan Chase Stock Is Going to $260. Is It a Buy?

One analyst believes JPMorgan Chase (NYSE: JPM) stock isn't the bargain it once was. He substantially lowered his price target on the "Big Four" U.S. bank last week, yet he remains bullish on its prospects. Here's a detail or several about his new take on the company, and whether his positive outlook is warranted.CFRA's Kenneth Leon published an update on JPMorgan Chase following the bank's unveiling of its first-quarter results Friday morning. As in preceding quarters the lender did well, posting solid year-over-year growth on both the top and bottom lines, and topping the consensus analyst estimates for both. Yet like the rest of the world's businesses, JPMorgan Chase is currently sailing in unfamiliar waters. This was the crux of Leon's price target reduction, according to reports. The analyst wrote that he was narrowing his equity risk premium on the stock due to the currently high level of global uncertainty around U.S. trade policy. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool