JPM - JPMorgan: This Banking Giant Has A Very Decent Upside Potential
2024-03-29 14:22:08 ET
Summary
- Thesis Update: JPMorgan's stock has risen by 15.57% since my previous article. Now, my projected fair price is $237.41, representing a 20.7% upside from the current price.
- Growth Plan: Expansion through 500 new branches poses both opportunities and risks in capturing deposits.
- Market Share: JPMorgan holds 13.80% of total deposits in the US, indicating room for growth in the banking sector.
- Rating: JPM remains a strong buy because of its strong financial condition and the potential return that can be released if my fair price estimate is achieved.
Thesis
In my previous article (released in Q3 2023 , which were released on October 13) that covered JPMorgan Chase & Co. ( JPM ), I assigned a strong buy rating citing that its estimated fair price was around $314.74, an 85% upside from the stock price at the time of $170.1. The stock price is around $196.6, which indicates that the stock has increased by 15.57% since my previous article....
JPMorgan: This Banking Giant Has A Very Decent Upside Potential