Phillip Securities cuts JPMorgan price target to $370 after Q3 earnings miss
+1 new source since this summary was written
Phillip Securities lowered its price target for JPMorgan Chase & Co. from $380 to $370 and reduced its fiscal 2026 earnings estimate by 3% because of weaker-than-expected trading, asset‑management and investment‑banking revenue. The bank reported third‑quarter 2026 adjusted earnings per share of $5.75 and revenue of $50.17 billion, both missing Wall Street forecasts. The analyst kept an Accumulate rating, citing the bank’s earnings diversity and asset‑sensitive balance sheet.
Why it matters
The reduced target reflects Phillip Securities’ view that JPMorgan’s earnings outlook is weaker, which may prompt investors to reassess the stock’s valuation and potential upside.
Key facts
- 1Phillip Securities lowered its price target for JPMorgan to $370 from $380. investing.com
- 2The firm cut its fiscal 2026 earnings estimate by 3% due to lower expectations for proprietary trading, asset management and investment banking revenue. investing.com
- 3JPMorgan reported adjusted Q3 2026 earnings per share of $5.75. investing.com
- 4JPMorgan reported Q3 2026 revenue of $50.17 billion. investing.com
- 5Wall Street expected EPS of $5.93 and revenue of $51.23 billion for Q3 2026. investing.com
- 6Insider sales of JPMorgan over the past three months totalled $1,785,550. gurufocus.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.