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On Thursday, UBS analyst Erika Najarian updated her assessment of JPMorgan Chase & Co. (NYSE:JPM), increasing the price target to $305.00 from the previous $277.00 while reiterating a Buy rating on the stock. The adjustment follows JPMorgan’s announcement of robust earnings, which were bolstered by strong trading-driven revenue and an increase in its consolidated net interest income (NII) guidance.
JPMorgan showcased its financial strength by not only surpassing revenue expectations through its trading activities but also by raising its consolidated NII forecast by $500 million. This uptick is attributed to the aforementioned trading performance, yet the company has maintained its non-market NII guidance at $90 billion. With a solid dividend yield of 2.44% and a 21.74% dividend growth in the last twelve months, JPM continues to reward shareholders. InvestingPro subscribers can access detailed analysis of JPM’s financial health, which currently receives a "GOOD" overall rating, along with 8 additional exclusive ProTips.
Najarian has revised her earnings per share (EPS) estimate for the year 2025 upward to $19.37 from $18.46, attributing the increase to the combination of higher revenues and a more significant than anticipated share repurchase activity in the first quarter of 2025. This revision takes into account higher provisions, which stem from a proactive reserve build due to macroeconomic uncertainties, rather than an expectation of increased losses in 2026.
The analyst also adjusted her 2026 EPS forecast to $20.14 from $18.90, primarily due to the momentum in revenue and the acceleration of reserve building into 2025. These updates underpin the new price target of $305. Najarian’s estimates suggest that JPMorgan could achieve a return on tangible common equity (ROTCE) of approximately 19-20% on a common equity tier 1 (CET1) ratio of roughly 15.3% for both 2025 and 2026. These figures are particularly noteworthy considering they include a $12.5 billion provision for 2025 and an $11.7 billion provision for 2026, underscoring JPMorgan’s position as a leading entity in the banking sector.
In other recent news, JPMorgan Chase & Co. reported strong financial results for the first quarter of 2025, surpassing analyst expectations. The company achieved earnings per share (EPS) of $5.07, exceeding the forecast of $4.62, and reported revenue of $46 billion, which was higher than the anticipated $43.9 billion. Additionally, CFRA adjusted its price target for JPMorgan from $310 to $260, maintaining a Buy rating, while highlighting the bank’s strong performance in major business segments despite a reduction in equity underwriting. On the other hand, Truist Securities lowered its price target for JPMorgan to $251 from $264, citing economic uncertainties and a cautious outlook on future earnings. Truist maintained a Hold rating, noting a stable EPS forecast for 2025 but a slight decrease for 2026. These developments reflect the bank’s resilience and adaptability amid market fluctuations and ongoing economic pressures. Analysts from both Truist and CFRA have adjusted their earnings projections for 2025 and 2026, reflecting varying expectations for JPMorgan’s future performance.
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