JPMorgan Chase (JPM) Receives a New Rating from a Top Analyst

ASML and Goldman Sachs reported strong Q3 earnings, with ASML beating estimates on EPS and revenue, and Goldman showing 39% earnings growth. Despite this, both stocks have declined, with ASML down 6.8% in a week and Goldman down 11.1% in a month. Analysts attribute the drop to P/E compression and a valuation reset. JPMorgan missed earnings but showed positive net interest income outlook. The S&P 500 is described as two markets: AI-related companies and others.

The OCC reviewed debanking practices at nine major US banks, finding policies that restricted services based on political, religious, or lawful business activities. The banks included JPMorgan Chase, Bank of America, and Citibank. The OCC cited broad reputation risk policies lacking objective criteria, affecting sectors like oil, firearms, and digital assets. The regulator is considering further action to prevent discrimination in banking decisions.

JPMorgan Chase reported Q3 2026 net income of $15.3 bn, up 6% YoY, with diluted EPS increasing 10% to $5.57. Revenue rose 8% to $50.2 bn. Growth was driven by investment banking, equities trading, and consumer lending. The bank maintained a 13.9% CET1 capital ratio and returned $5.1 bn to shareholders. Assets under management reached $5.2 tn. Management remains cautious about economic outlook.

Wall Street banks reported mixed Q3 earnings, with JPMorgan and Bank of America missing estimates. Dealmaking slowed due to market volatility, geopolitical concerns, and rising bond yields. Equity trading outperformed fixed-income, while consumer banking remained steady. Net interest income rose, supported by Federal Reserve rate hikes.

Phillip Securities upgraded JPMorgan Chase to 'Accumulate' from 'Neutral' with a $370 price target. The stock is currently trading at $335.28, up 1.16% in 5 days and 1.73% year-to-date. The upgrade is based on a weighted average of ratings including valuation, EPS revisions, and visibility.

Phillip Securities lowered JPMorgan Chase's price target from $380 to $370, citing a 3% earnings forecast reduction due to expected declines in trading, asset management, and investment banking revenues. JPMorgan reported Q3 adjusted EPS of $5.75, below expectations, and revenues of $50.17B, also missing forecasts. The stock has a 1.9% dividend yield and is currently trading at $335.28, with a GF Value™ indicating it is 8.2% overvalued. Insider sales totaled $1.79M over the past three months.