Cowen raises JPMorgan stock price target to $315

On Tuesday, TD Cowen’s research division issued an updated assessment for JPMorgan Chase & Co. (NYSE:JPM), increasing its price target to $315 from the previous $305 while maintaining a Buy rating on the stock. The adjustment follows the firm’s investor day, which left analysts with a reinforced belief in the bank’s unique market position and growth potential.

Analyst Steven Alexopoulos expressed heightened confidence in JPMorgan, citing the bank’s leading market share and anticipated acceleration in earnings growth due to significant productivity gains from artificial intelligence (AI) innovations. The optimism appears well-founded, as InvestingPro data shows the stock has delivered an impressive 38.57% return over the past year. Despite the current disfavor towards bank stocks, Alexopoulos considers JPMorgan’s trading at 13.5 times its projected 2026 earnings as an attractive investment.

The investor day revealed that JPMorgan Chase is on the cusp of substantial value creation, with a compound annual growth rate (CAGR) in revenue around 8% over the past five years. The bank is expected to maintain this momentum across its various businesses. The company’s ambition is evident in its goals, which include reaching 15% deposit market share and 20% card market share organically within its Consumer & Community Banking (CCB) division. Additionally, it aims to expand in alternatives, workplace, and private banking in its Asset & Wealth Management (AWM) segment, and to enhance client services in its Corporate & Investment Bank (CIB), particularly in payments.

The report also highlighted JPMorgan’s strategy to outpace revenue growth with pre-provision net revenue (PPNR). The emphasis on leveraging AI technology has been pinpointed as a key factor in the bank’s exponentially increasing productivity benefits. This strategic focus is expected to contribute significantly to the firm’s future performance. The bank maintains a "GOOD" overall financial health score according to InvestingPro’s comprehensive analysis, which offers detailed insights through its Pro Research Report, available along with 8 additional ProTips for subscribers.

In other recent news, JPMorgan Chase & Co. has been the focus of several analyst updates following its annual investor day. Piper Sandler raised its price target for JPMorgan to $295, maintaining an Overweight rating, and highlighted the bank’s 2025 financial targets, including a projected net interest income of approximately $94.5 billion. RBC Capital Markets also increased its price target to $285, reiterating an Outperform rating, with confidence in JPMorgan’s strategic plans to enhance shareholder value. Meanwhile, Keefe, Bruyette & Woods maintained a Market Perform rating with a $253 target, noting JPMorgan’s strong capital reserves and potential for strategic acquisitions. Truist Securities kept a Hold rating with a $251 target, emphasizing the bank’s focus on achieving top-tier returns across its business lines.

The investor day did not reveal groundbreaking news but confirmed JPMorgan’s strategic direction and financial goals. Analysts pointed out that JPMorgan’s management did not provide new information on executive succession plans, although CEO Jamie Dimon plans to remain in his role for several more years. Additionally, Morgan Stanley (NYSE:MS) analysts forecast an increase in bank mergers and acquisitions in the latter half of the year, as recession risks diminish, which could impact JPMorgan’s strategic decisions moving forward.

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