Banking and financial services giant JPMorgan Chase & Co. (JPM) on Friday caught a big downgrade from famous banking analyst Mike Mayo.
The Credit Agricole analyst said he cut his rating on JPM from “Outperform” all the way down to “Underperform.” Mayo left his $43 price target in tact, which suggests a flat upside to the stock’s Thursday closing price of $43.01.
Last month, JPM posted a decline in first quarter earnings, but results still beat Wall Street’s view.
JPMorgan Chase shares fell 67 cents, or -1.6%, in premarket trading Friday.
The Bottom Line
Shares of JP Morgan Chase (JPM) have a 2.79% dividend yield, based on last night’s closing stock price of $43.01. The stock has technical support in the $38-$40 price area. If the shares can firm up, we see overhead resistance around the $46 price levels.
JPMorgan Chase & Co. (JPM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here