On Friday, April 05, 2013 JPMorgan Chase & Co. (NYSE:JPM) received an upgrade to overweight from Evercore Partners.
Previously JPM stock was at equal weight now upgraded to overweight by Evercore. The analysts at Evercore Partners say that the JPMorgan Chase And Company has healthy fundamentals, despite the London Whale losses.
JPM’s capital markets area is stable and continues to improve and it has the cheapest valuation of the large-cap banks, said analysts.
The analysts at Evercore raised the company’s price target to $55 a share from $48 a share and foresee the earnings per share to $5.50 for 2013.
Analyst is also expecting that company’s first-quarter earnings per share of $1.43 when J.P. Morgan reports on April 12. J.P. Morgan shares were down 0.6% in premarket trading.